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BUNDS: Next Yield level holds

BUNDS
BundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • The German Bund remains underpinned and perfectly tested the noted 2.197% Yield level Yesterday and once again overnight when it is quoted (61.8% retrace of the Oct/Nov range).
  • The contract has seen a continuation following the disappointing PMIs on Friday, and is acting as a safer haven.
  • Immediate resistance in Bund is at the intraday high, will equate to circa 2.197%.
  • Upside momentum through that level would open to 134.25.
  • Support moves up to 132.83, followed by 132.65.
  • There's no Tier 1 data for the session, focus today will be on Supply.
  • Out of the US, we get the FOMC minutes earlier on thanks Giving Week.
  • SUPPLY: Italy €2bn 2026 (equates to 15k Short 2yr BTP) might weigh, plus 2029, 2033 Linkers (won't impact BTP), Germany €4bn Bobl (equates to ~34.3k Bobl) should weigh, US Sells $70bn of 5yr notes (will weigh), and $28bn of 2yr FRN reopening (won't impact Treasuries).
  • SPEAKERS: ECB Villeroy (x2), Centeno (x2), Rehn, Muller, Kazaks, BoE Pill.
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  • The German Bund remains underpinned and perfectly tested the noted 2.197% Yield level Yesterday and once again overnight when it is quoted (61.8% retrace of the Oct/Nov range).
  • The contract has seen a continuation following the disappointing PMIs on Friday, and is acting as a safer haven.
  • Immediate resistance in Bund is at the intraday high, will equate to circa 2.197%.
  • Upside momentum through that level would open to 134.25.
  • Support moves up to 132.83, followed by 132.65.
  • There's no Tier 1 data for the session, focus today will be on Supply.
  • Out of the US, we get the FOMC minutes earlier on thanks Giving Week.
  • SUPPLY: Italy €2bn 2026 (equates to 15k Short 2yr BTP) might weigh, plus 2029, 2033 Linkers (won't impact BTP), Germany €4bn Bobl (equates to ~34.3k Bobl) should weigh, US Sells $70bn of 5yr notes (will weigh), and $28bn of 2yr FRN reopening (won't impact Treasuries).
  • SPEAKERS: ECB Villeroy (x2), Centeno (x2), Rehn, Muller, Kazaks, BoE Pill.