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A tight range bound open for Bund, but........>

BUNDS
BUNDS: A tight range bound open for Bund, but decent bear steepening in early
trading.. -Early focus turns to EU National PMIs and couple of ECB speakers
(Panetta/De Cos). 
-Some attention on Portugal 15yr syndication.
*Technically, despite some pullback in the contract, risk remains tilted to the
upside near term, on contagion risk, and US relations.
-Immediate support comes at 175.76 20-day EMA, while main resistance remains at
yesterday's levels near -0.50% in  yield terms

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