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BUNDS: France and Italy lead EGBs higher on the open

BUNDS
BundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets
  • A flat start for Bund, overall the contract stays closer to this Week's low, albeit still just short of pre PMIs levels seen on Monday.
  • There's an early bid into the cash open, and this was led by the French OAT, which has helped provide a just in the Italian BTP as it opened.
  • BTP now leads in EGBs
    Support moved up to 134.37 Yesterday, and Bund held, following a 134.34 low print.
  • This initial area remains, although some will look for support towards the 134.00 figure, while better will still be seen at 133.79.
  • Risk is still tilted to the upside, Bund did close Yesterday's opening gap up to 134.91 Yesterday, resistance is at 135.04, followed by the 2.078% Yield level (August Low).
  • Data are picking up, today includes Spain retail sales, Italian Consumer confidence, US 3rd reading GDP/Core PCE, IJC, prelim durables Goods.
  • SUPPLY: US Sells $44bn of 7yr Notes.
  • SPEAKERS: Fed Powel (pre recorded), Collins, Bowman, Williams, Cook, ECB Lagarde, Guindos, Schnabel.
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  • A flat start for Bund, overall the contract stays closer to this Week's low, albeit still just short of pre PMIs levels seen on Monday.
  • There's an early bid into the cash open, and this was led by the French OAT, which has helped provide a just in the Italian BTP as it opened.
  • BTP now leads in EGBs
    Support moved up to 134.37 Yesterday, and Bund held, following a 134.34 low print.
  • This initial area remains, although some will look for support towards the 134.00 figure, while better will still be seen at 133.79.
  • Risk is still tilted to the upside, Bund did close Yesterday's opening gap up to 134.91 Yesterday, resistance is at 135.04, followed by the 2.078% Yield level (August Low).
  • Data are picking up, today includes Spain retail sales, Italian Consumer confidence, US 3rd reading GDP/Core PCE, IJC, prelim durables Goods.
  • SUPPLY: US Sells $44bn of 7yr Notes.
  • SPEAKERS: Fed Powel (pre recorded), Collins, Bowman, Williams, Cook, ECB Lagarde, Guindos, Schnabel.