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Expiries for Oct18 NY cut 1000ET (Source DTCC)

MNI EXCLUSIVE

Impact Of Factory Price Surge On PBOC Policy

POLAND

A Benchmark Rate at 2% Would 'Not Be Excessive'

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  • RES 3: 153.02 - High Apr 28 2020
  • RES 2: 152.62 - High Jul 21 and the bull trigger
  • RES 1: 151.93 High Sep 10 / 15
  • PRICE: 151.53 @ 15:30 BST Sep 24
  • SUP 1: 151.52 - Low Sep 24
  • SUP 2: 151.49 - Low Jun 17
  • SUP 3: 150.88 - Low Apr 1

JGBs continue to ebb, remaining closer to the lower end of the recent range. Continued weakness has placed the recent bullish outlook on hold and with a bearish sequence of lower lows and lower highs established, further downside is likely near-term. The focus is on 151.49 next, Jun 17 low (cont). A break of this support would signal scope for a deeper pullback. Initial resistance is at 151.93, Sep 10 high.