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Bund and Treasuries test session highs

CROSS ASSET
  • Bund and Treasuries are back to session high, with the US Tnotes outperforming EGBs overnight and since the cash open.
  • As such the Tnotes/Bund spread tightens by 6.3bps, and eyeing a test at the 190.00bps, did print as low as 187.55bps this Month, just short of the support noted at 185.5bps, the 23.6% retrace of the April/October widening.
  • TYZ3 bought in 5k through the high, and small initial resistance moves down to 107.26/107.28.
  • A clear break through the 128.00 figure, opens back to 108.09+.
  • Emini edges in green territory, up 10 points, helping Estoxx to its session high.

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