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BONDS: Bund tests the early support

BONDS
BulletMarketsFixed Income Bullets
  • Bund makes another attempt at that 134.46 level, and core Govies are seeing some early divergence, helping the Tnotes/Bund spread tighter in early trade.
  • The 170.00bps level has provided some resistance so far this Month, although better resistance is still seen at 172.00bps in the 10yr German/US spread.
  • Although the early volume is below averages in Germany, it is again standing out in Bund today, similar to what was seen Yesterday.
  • The 134.46 support has again held for now, with Tnotes bought in 6k cumulative Volume.
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  • Bund makes another attempt at that 134.46 level, and core Govies are seeing some early divergence, helping the Tnotes/Bund spread tighter in early trade.
  • The 170.00bps level has provided some resistance so far this Month, although better resistance is still seen at 172.00bps in the 10yr German/US spread.
  • Although the early volume is below averages in Germany, it is again standing out in Bund today, similar to what was seen Yesterday.
  • The 134.46 support has again held for now, with Tnotes bought in 6k cumulative Volume.