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Volatile trading

BUNDS
  • Bund remains very volatile with very low liquidity, today circa 50 ticks with 8k lots traded, and a massive 349 ticks turnaround from last Friday.
  • Small support is at 156.74 initially, and resistance moves down to 157.93.
  • There's no Tier 1 data left for the session. ECB publishes Economic bulletin, and out of the US {us} see IJC, but no longer a market mover, with ALL EYES on NFP tomorrow.
  • Main focus is on the BoE, with most sell side going for a 50bps hike. This is also widely expected by Economist's estimates.
  • 13 out of 43 economists surveyed by Bloomberg are going a 25bps hike, a 50bps hike to 1.75% is the median call.
  • SUPPLY: France 2032, 2034, and 2026, 2029, 2032 and 2033.
  • SPEAKER; BoE Bailey, US Fed Mester.

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