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BONDS: Off Intraday Highs

BONDS
BulletMarketsFixed Income Bullets

Core bonds have pulled away from intraday highs as crude futures find a base and equity markets stabilise a little. 

  • Bunds reached an intraday high of 133.75 earlier, leaving first resistance at the 50-day EMA (133.84) untouched. Futures are currently +31 ticks at 133.45,
  • Gilts continue to outperform German counterparts, with futures +45 at 96.48.
  • This allows the 10-year Gilt Bund spread to trade 1bp tighter at 195bps.
  • Bund and Gilt volumes have been above average throughout the day, and afternoon activity may be aided by the return of NY desks from yesterday’s Colombus Day holiday.
  • Canadian September CPI at 1330BST/1430CET headlines this afternoon’s macro calendar.
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Core bonds have pulled away from intraday highs as crude futures find a base and equity markets stabilise a little. 

  • Bunds reached an intraday high of 133.75 earlier, leaving first resistance at the 50-day EMA (133.84) untouched. Futures are currently +31 ticks at 133.45,
  • Gilts continue to outperform German counterparts, with futures +45 at 96.48.
  • This allows the 10-year Gilt Bund spread to trade 1bp tighter at 195bps.
  • Bund and Gilt volumes have been above average throughout the day, and afternoon activity may be aided by the return of NY desks from yesterday’s Colombus Day holiday.
  • Canadian September CPI at 1330BST/1430CET headlines this afternoon’s macro calendar.