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A very busy day ahead

BUNDS
  • Bund was sitting closer to Yesterday's mid range going into the cash open, with similar price action in US Tnotes (TYU4), with both contracts unwinding some of the perplexing bids that was seen post US Data Yesterday, was more a rate move, given the lack of spill overs into multi cross assets.
  • The 1 tenth higher revision for the final UK GDP had limited, was worth a 5 ticks downside move, but more likely algo flows, given the lack Volumes, and the German contract edging higher back above the figure post open.
  • Next support in Bund remains at 131.58, printed a 131.68 low Yesterday, while resistance is still seen at 132.22, followed by 132.52.
  • This is the main event of the week in terms of data, includes France, Italy, Spain, Portugal prelim CPIs, ECB CPI expectations, the awaited US PCE core deflator, MNI Chicago PMI, and final Michigan.
  • There's also plenty of volatility risk going into the Weekend ahead of the 1st Round of the French elections, as Desks hedge Positions.
  • SPEAKERS: Fed Barkin, Daly (x2), Bowman, ECB villeroy.
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