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Underpinned post UK Inflation data

BUNDS
  • Although in the green overnight, Bund still trades at its lowest level since the start of January.
  • The contract jumped 20 ticks on the cash open as the UK inflation data came below consensus, but has lacked upside momentum.
  • Support is at yesterday's low 135.02, followed by 134.52 76.4% retracement of the Jan 2 - 19 bull run.
  • Small resistance moves down to 135.62.
  • Spain final CPI, EU IP, and US Retail sales/IP are the notable releases for the session.
  • SUPPLY: German 25yr and 30yr, (equates combined to 13.1k Buxl), US sells $15bn of 20yr.
  • SYNDICATION: Belgium 30yr and Slovakia 10, 20yr.
  • SPEAKERS: ECB Lagarde.

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