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Bund spikes 40 ticks

BUNDS
  • Another risk off session overnight, after Putin declared that he's recognizing two self proclaimed separatist republics.
  • Mar Bund has just gained another 40 ticks in less than 30 minutes going into the cash open.
  • Immediate next resistance comes at 167.52 Trendline resistance drawn from the Dec 20 high.
  • Estoxx futures eye 3895.00 Low Jul 19 2021 (cont).
  • The cash (SX5E), not yet opened has tested lowest level since July 2021 yesterday, and next support for the index is at the July low, 3904.78.
  • Focus remains squarely on Russia, on the data front we get German IFO, but unlikely to move the needle.
    • Out of the US, sees PMIs.
    • SPEAKERS: Include BoE Ramsden and Fed Bostic

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