GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

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BUNDS: BoE and The Fed are at the forefront

BUNDS
  • There's very little changed in Bund going into the European session, overall it is trading closer to Yesterday's wide 164 ticks mid range.
  • The German IP was a miss, but this had very little impact on the release, just a tiny 10 ticks turnaround.
  • Nonetheless, the contract sees better demand post Cash open, lifted in 4k cumulative volume.
  • Small resistance moves down to 131.92, followed by 132.22 (Yesterday's high).
  • Support moves up to 131.15, followed by 130.58 (Yesterday's low).
  • Today will see Services PMIs, but these will be final readings for France, Germany, EU and US, so main focus will be on the BoE, and especially the Fed, given Donald Trump's win Yesterday.
  • SUPPLY: Early focus in Europe will be on Supply, Spain 5s, 30s plus linker, France 10s, 20s, 30s.
  • SPEAKERS: ECB Stournaras (x3), Schnabel, Elderson, Escriva, Knot, Lane, BoE Presser, Fed Powell.
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