July 01, 2024 06:22 GMT
A busy week ahead
BUNDS
- It was a Decent 37 ticks downside opening gap for Bund overnight, after the far right party in France is looking unlikely to win enough seats for an outright majority.
- The German 10yr Yield has jumped to 2.55% post Cash open, safer haven flow unwind the driver for the German contract, with the EUR also benefitting.
- Despite some of the recovery in BTP and OAT, the latter stays close to the 2024 high in Yield.
- The initial target of 3.327%, the 2024 high in the French 10yr Yield held on Friday, equated to 122.88 and printed a 122.86 low.
- For Bund, next support comes at 130.77, while initial upside area will be at 131.52 (gap).
- It's a very busy week ahead, today includes, Final mfg PMIs for France, Germany, EU, UK, US, German Regional/National CPIs, US mfg ISM/price paid.
- SPEAKERS: ECB Lagarde Nagel.
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