February 05, 2025 07:25 GMT
BUNDS: Another busy overnight session
BUNDS
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- It is another relatively busy overnight session for Bund, with elevated volumes in {us} US Tnotes and the German contract going into the European session.
- Risk remains tilted to the upside for the German Bond on growth concerns in Europe, as well as Technically.
- Bund is now eyeing 133.58, Monday's quick/ fast market high printed on Monday, but better will now be seen at 2.30% in Yield terms.
- The German 10yr Yield printed at 133.86 high, with a 2.309% low on the 2nd January.
- Today sees Services PMIs, but final readings for the major developed countries, so should be taking a back seat.
- Focus will be on the US ISM services, while US ADP is also due.
- US Quarterly refunding will garner interest as well.
- SUPPLY: Gilt 2053 £2bn (Equates to 19.8k Gilt) could somewhat weigh into the bidding deadline.
- SPEAKERS: Fed Barkin (x2), Goolsbee, Bowman, ECB Lane.
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