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US CPI is at the forefront

BUNDS
  • There's very little changed overnight for Bund, and while it is was showing 6 ticks in the red going into the Cash open, the contract remains underpinned following the US PPI miss Yesterday.
  • UK CPI missed expectations, and Bund gained some 17 ticks on the release, now flat post Cash open.
  • Next resistance is still seen at 135.18, printed a 135.08 high Yesterday, and now a 135.16 high post UK data.
  • A break through will open back to 135.59.
  • Support is still at 134.17, ahead of 133.77.
  • Today sees France final CPI, and EU prelim GDP, but ALL EYES will be on the US CPI.
  • SUPPLY: France 3s, 5s, 6s, 7s, Germany 2050, 2054 (equates combined 12.1k Buxl) should have limited impact.

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