Free Trial

Bonds falls on the EU Cash open

BUNDS
  • Bund fell 44 ticks on the cash open, following the UK CPI beat, potentially more pain coming for UK households.
  • Main initial support at 133.50 remains, and held yesterday, and will be the support, followed 133.15.
  • With the UK data out of the way, the only notable release will be the German IFO, and no data out of the US.
  • Also today, sees ECB Non-Policy meeting in Frankfurt.
  • Focus on the other side of the Atlantic, will be on the US FOMC minutes, but it has been a while since it has moved the markets.
  • SUPPLY: German 2038, 2040 (equates combined 28.4k Bund) might weigh, US sells $45bn of 5yr note, while the 2yr $22bn FRN reopening won't impact Treasuries.
  • SPEAKERS: BoE Bailey (x2), ECB Lagarde, Fed Waller.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.