October 25, 2024 06:20 GMT
BUNDS: A small gap higher Overnight
BUNDS
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- Bund saw a small 5 ticks higher gap on the open overnight, but the contract is fairly steady post Cash open, still within Yesterday's range and short of the initial resistance noted at 133.57, printed a 133.54 high Yesterday.
- The small opening gap is down to 133.23, just a 5 ticks below today's printed low.
- Below the latter, next support area is at 132.92, followed by 132.45.
- It's a lighter day on the Data front, Spain PPI, German IFO, and ECB CPI expectations are the European events, while in the US, Michigan will be the final reading.
- SUPPLY: Italy €2.5bn 2026 (equates to 18.9k short 2yr BTP) could weigh into the bidding deadline, plus 2030, 2036 Linkers, shouldn't impact BTPs.
- SPEAKERS: Fed Collins, ECB Villeroy.
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