- Bund has reversed this morning's selling, which was mostly led by the early heavy French and Spain supply, and delta hedging needs.
- The German contract is eyeing a test at its overnight high, following the US ADP miss.
- While IJC saw a beat limiting some of the bounce in Bond Futures, final ULC was revised lower, which seems to be helping future's bid.
- The resistance area is at 134.50/134.61 in Bund, while other desks will be looking at Yield levels and 2.168% = 134.52 (14th August low).
- For the US 10yr, most will look at that sudden fall down to 3.6653%, triggered by the 5th August NFP miss, and continuation down to that level the following Monday.
- Today, the 3.6653% would be circa 115.07+.
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