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Trending towards yesterday's high

BUNDS
  • Small better buying in Bund since the cash open, contracts holds onto gains, just ahead of yesterday's high at 170.40, but initial resistance comes at 170.48 50-day EMA, and highest level since the 7th May.
  • Volumes are very subdued and the Curve (5/30s( trades flat.
  • Focus today will be mainly on US data, which include prelim Durable goods, 2nd Reading for GDP and Core PCE.
  • Speakers sees ECB de Cos, Guindos, Weidmann, Schnabel, BoE Vlieghe
  • SUPPLIES: US $62bn 7yr.

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