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Bund futures higher on NRW CPI data

GERMAN DATA
  • NRW CPI -0.1%M/M, +3.1%Y/Y
  • Bund futures moving higher as the -0.1%M/M print is below the 0.2%M/M expected for the national CPI print later.
  • A high of 129.19 was hit from 128.90 pre-data (we are back to 192.05 now).
  • Note that on Friday we had the Brandenburg and Berlin CPI releases and they were at 0.0% and -0.2%M/M respectively, so this print comes in the middle of those.

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