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Big German PPI beat keeps Govies offered on the cash open.

  • Bund came under instant pressure following the big German PPI beat, Bund fell close to 30 ticks on the release, and the contract remains above 1.8% in Yield.
  • Immediate support comes at 142.15, last week's low and lowest print since mid June.
  • Resistance moves down to 142.91 initially.
  • There's no tier 1 data left for the session in Europe, nor the US.
  • SUPPLY: US sells $12bn 20yr reopening.
  • SYNDICATION: ESM 2025, Spain 20yr Benchmark.
  • SPEAKERS: ECB Lagarde and Muller

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