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Bund close the downside gap

CROSS ASSET
  • After testing the upside gap in Bund, the contract now hovers near session low.
  • Gilts seems to be dragging EGBs.
  • Bund has so far seen the smallest range since at least the 31st January.
  • Volumes are also very subdued.
  • Bund has now closed the downside gap to 157.27, printed a 157.21 low.
  • Markets react across assets on the latest Russia headline, but the Lavrov one, saying that the proposal are different than the ones from Istanbul, isn't that clear that it is good news.
  • "Lavrov: Ukraine proposals on Crimea and Donbas are unacceptable.
  • This provided a Knee jerk reaction in Equities and Govies

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