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US CPI is at the forefront

BUNDS
  • A small downside opening gap for Bund and Rate futures (Euribor), but the lack of fresh news overnight has kept the Bund contract in a 24 ticks range overnight, with all the attention US CPI.
  • On the Cash open, Bund ticked lower led by cash, but the small push lacked traction.
  • European Gas are again bid this morning, but within Yesterday's ranges, traded as high as EU43.545 Yesterday.
  • This morning, sees Italy/Portugal final CPIs, and on the other side of the Pond, US US CPI/real average earnings/IJC.
  • SUPPLY: US sells $23bn of 30yr Bond.
  • SPEAKERS: Fed Daly, Bostic, Harker.

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