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Underpinned on the cash open

BUNDS
  • 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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