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Yields stay elevated, PMIs the main focus

BUNDS
  • Bund is flat going into the cash open, after Yield printed its highest levels since 2011 Yesterday.
  • The contract trades in a tight range, with investors waiting on the prelim PMIs releases, which provided the biggest moves for the contract in August, albeit during the Summer lower liquidity period.
  • Resistance in Bund is at 130.00, and support comes at 129.00 initially.
  • Focus is squarely on PMIs today.
  • SPEAKERS: ECB Guindos, Fed Cook, Daly Kashkari.

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