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Bunds Lower After Trump Assassination Attempt

EGBS

Bunds followed Tsy futures lower in Asia as markets reacted to increased odds of a second U.S. Presidential term for Trump after he survived an assassination attempt.

  • Bund futures -23 at 131.50, off overnight lows of 131.39. Friday’s low was untested.
  • Our technical analyst notes that the trend condition in the contract remains bearish and short-term gains appear to be corrective.
  • Initial support at the Jul 9 low (130.78), initial resistance at the July 11 high (132.08).
  • Softer-than-expected Chinese GDP data had little impact on wider market sentiment.
  • Eurozone industrial production data is due today.
  • The latest Eurogroup meeting will also take place today, with eyes on any comments surrounding French fiscal matters/EDP.
  • On the supply front, the EU will sell 3- & 15-Year paper this morning.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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