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BONDS: Bund outperforms US Tnotes post US Data

BONDS
  • Bund is back above pre US Data levels, while US Treasuries are now seeing some decent size lifts across the strip at the bottom of the ranges.
  • TYZ4 was near its session high pre data, and would need a test at that level ~109.17 to fully reverse the initial sell off.
  • The price action in the Tnotes/Bund spread has been mixed, initially tightened towards 208bps, as Treasuries were outperforming Bund futures, now back to 1bps wider and above 210bps.
  • Reistance in the 10yr spread is at 212.5bps.
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  • Bund is back above pre US Data levels, while US Treasuries are now seeing some decent size lifts across the strip at the bottom of the ranges.
  • TYZ4 was near its session high pre data, and would need a test at that level ~109.17 to fully reverse the initial sell off.
  • The price action in the Tnotes/Bund spread has been mixed, initially tightened towards 208bps, as Treasuries were outperforming Bund futures, now back to 1bps wider and above 210bps.
  • Reistance in the 10yr spread is at 212.5bps.