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BUNDS: A notable overnight session for Bonds

BUNDS
BundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • The first thing that stands out into the European session is that since the US 10yr Yield is now quoted following Yesterday's Bank Holiday, and the TYH5 printed a 111.03+ high, the Yield had a brief test below the next initial support of 4.2205%, this would have equated to 111.03 Yesterday, printed a 4.2129% low overnight with a 111.03+ high, next resistance is at 111.13 for TYH5.
  • This means that the German Bund and wider semi core EGBs have been dragged higher, and a test up to 134.70 in Bund, would see the Yield testing the 2.10% level, this isn't far, Bund test new highs post cash open.
  • Next upside level for the French OAT comes at 2.900%, circa 126.75.
  • Today sees, EU, France, Italy, Portugal prelim CPIs, and for North America, there's only the Canadian GDP, won't impact Bund.
  • ECB CPI expectations, and BoE financial stability review and FPC minutes are also due.
  • SPEAKERS: ECB Guindos, Nagel.
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  • The first thing that stands out into the European session is that since the US 10yr Yield is now quoted following Yesterday's Bank Holiday, and the TYH5 printed a 111.03+ high, the Yield had a brief test below the next initial support of 4.2205%, this would have equated to 111.03 Yesterday, printed a 4.2129% low overnight with a 111.03+ high, next resistance is at 111.13 for TYH5.
  • This means that the German Bund and wider semi core EGBs have been dragged higher, and a test up to 134.70 in Bund, would see the Yield testing the 2.10% level, this isn't far, Bund test new highs post cash open.
  • Next upside level for the French OAT comes at 2.900%, circa 126.75.
  • Today sees, EU, France, Italy, Portugal prelim CPIs, and for North America, there's only the Canadian GDP, won't impact Bund.
  • ECB CPI expectations, and BoE financial stability review and FPC minutes are also due.
  • SPEAKERS: ECB Guindos, Nagel.