June 25, 2024 06:53 GMT
Bonds and Rates
BONDS
- Bund has closed its small opening gap, down to 132.50, but very little in terms of notable flow, as the moves are quite gradual, 1 tick at a time.
- BTP underperforms, and while the Supply isn't that heavy, the low liquidity could weigh on the 2yr part into the bidding deadline.
- In terms of Volumes, 19k for Bund, 90k for TYA, and 2.8k for BTP are way below average.
- There is a small jump in Euribor Volumes, albeit still very low, but some buying interest of the ERZ4/ERH5 and ERZ4/ERZ5 spreads, which helps explain the better volume in ERZ4 vs the rest of the strip.
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