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Bull flattening takes hold

BUNDS

Bund sees a similar price action on the cash open

  • The contract is back above 175.00, recovering 134 ticks of the 270 ticks drop on Monday's vaccine news.
  • Curve continues to bull flatten, as 5/30s pulls back from a 66.444 week high to 60.427 on the open.
  • Today sees French and Spanish Oct final CPIs, Netherland and Portugal 2Q GDP, and on the margin more focus on EZ 3rd quarter GDP.
  • On the speaker front, ECB Rehn, Hernandez and Weidmann are scheduled
  • Main focus remains on Brexit, and Covid spikes and looking into year end the very important Fed and ECB meeting in December.
  • Next MNI tech initial target in Bund is eyed at 175.29 20-day EMA
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BulletMarketsFixed Income Bullets

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