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Bond resume their pullbacks

BONDS
  • Bund has closed last Friday's gap that was 154.71.
  • Next resistance is seen towards 154.99.
  • Gilt is through the 118.54 High Apr 19, and has closed the gap to 118.62 (not a great study to use for this contract though).
  • Most will now look at 119.00 next.
  • Tnotes still eye 119.16+ initially.
  • Bonds have seen a continuation from this morning after we tested other multi year high in yield.
  • US 10yr 3% in Tnotes, looks like we may have formed a near term top, similarly too ahead of 1% in Bund.
  • The momentum got stopped for a short time by ECB Kazaks, but he's a known hawk.
  • Dip buying overnight and this morning, and also locking some profit, lightening up shorts, provided some consolidation.

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