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US CPI is at the forefront

BUNDS
  • A very tight 15 ticks range pre cash open with all investors awaiting on the US inflation data this afternoon.
  • The contract was flat going into the cash open, saw some small selling interest led by the cash open, but has recovered back to flat.
  • Support is at 135.39, while resistance moves down to 136.60, followed by the 136.88/137.28 gap.
  • There's no tier 1 data out of Europe, so all the focus is on the US CPI.
  • Besides the data, we get the FOMC minutes.
  • SUPPLY: German 2048 and 2052 (equates combined to 13.2k Buxl), US sells $32bn 10yr reopening. We have bills and a UK linker, but these won't impact Bonds.
  • SPEAKERS: ECB de Cos, Guindos, Villeroy, BoE Bailey (x2), Fed Barkin, Daly.

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