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Underpinned on the cash open
- Another steady session for Bund, albeit underpinned, following the Fed and less conviction regarding further rate hikes on the Horizon for the US, given the Banking credit situation.
- Equities, Rate, Govies Futures are all supported since last night and into the cash Bund open.
- Yesterday's high in Bund comes at 136.62, but better resistance is seen towards 137.10, while support moves back up to the 135.73 area initially.
- The contract did trade as low as 134.80 yesterday.
- Again no real tier 1 data for the session, and the focus will be on few Central Bank rate decisions, including the BoE.
- Overnight desks, will have an eye on the Japanese CPI release later tonight. SUPPLY: US sells $15bn 10yr TIPS reopening, won't impact Treasuries.
- SPEAKERS: ECB Stournaras, Holzmann, Muller, Centeno, Lane, BoE Mann.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.