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Bonds and tech gains

CROSS ASSET
  • Bund has now retraced to the Friday/Monday gap at 169.90, which it closed on Monday, printing a 169.92 high, testing now.
  • Dovish ECB Lagarde, some short covering,. and OTC desk defending the 0% yield level have all been supporting factors.
  • Volumes have also been on the very low side, which has helped exacerbate the move somewhat.
  • The Globe is quickly turning its attention to the FOMC on the 26th.
  • Next upside resistance in Bund is at 170.08.
  • US TYH2 is seen at 127.30
  • Nasdaq has now gained 1.33%, but from its session low

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