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A busy week ahead

BUNDS
  • An active week ahead, EU CPIs are back at the forefront, Investors will finish rolling into December for Gilt and Treasuries in the next two days, and they will start rolling/closing their Eurex positions starting in the latter part of the week.
  • Govies Month End, although closer to averages for this period in Treasuries, Bond extensions are still decent for the US, small for Europe and a non event for the UK.
  • For Bund, support seen last week at 130.13 still holds printed a 130.11 low Friday and 130.16 overnight.
  • To the upside, sees 130.46 (small gap) followed by 130.77 initially.
  • There's no data on note for today, with EU CPIs starting as off Tomorrow, with Germany and Spain.
  • SUPPLY: EU 2027 (equates 13k Bobl), 2033 (equates 14.8k Bund), shouldn't have any impact. US sells $54bn of 2yr, and $55bn of 5yr Notes.
  • SPEAKERS: ECB Lagarde in EU Parliament.

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