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US Employment and Earnings are at the forefront.

BUNDS
  • Bund is circa flat, albeit offered, and close to half the traded volume is spread related overnight and post the cash open.
  • The contract trades in a tight range ahead of the US Employment and earnings data, but remains underpinned, following a test to the 10th March high in Yield at 2.557%, following better receiving interest on the 26th May, risk reward expectations as Inflation falls, data missing consensus, and Month End this week, have been supporting factors.
  • Resistance is back at 136.38, despite the break up to 136.59 yesterday on US ULC data miss.
  • Resistance above the latter is seen at the 136.70/136.75 area.
  • Support moves up to 135.88 initially.
  • Today sees, French IP, but the main focus will be on US NFP/AHE (range is 100k/252k, median 195k, whisper 226k).
  • SUPPLY: Belgium 2057 (equates to 2.95k Buxl) shouldn't impact Bonds.
  • SPEAKERS: ECB Vasle (at Slovenian banking conference).

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