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Another large range start

BUNDS
  • Bund June is now front Month, and the contract has once again seen a large 123 ticks range after it traded at highest levels since December overnight.
  • Bund has closed the overnight opening gap down to 167.80, now at 167.44, as desk unwind some of Friday's and the overnight bid.
  • Next support in RXM2 is now towards 167.00.
  • Estoxx (VGH2) is just off the low, after seeing another gap lower overnight, with next support now seen at 3400.00.
  • Below the latter opens to 3375.70 - 2.236 proj of the Jan 5 - 24 - Feb 2 price swing
  • There are no Tier 1 data for the session, and focus remains squarely on Eastern Europe.
  • SPEAKERS: BoE Cunliffe Testifies.

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