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Bunds pull core FI higher

BONDS
  • Bunds started the European session on the front foot and helped pull TY1 futures higher and saw gilt futures also open higher. Bunds have faded off their early highs but remain up on the day while gilt and TY1 futures have seen smaller moves higher.
  • There has been a decent amount of corporate issuance this morning in the Eurozone in particular, with Germany holding a 30-year syndication and Bobl auction.
  • Looking ahead we will receive JOLTS and US consumer confidence data later today.
  • TY1 futures are up 0-2+ today at 109-23 with 10y UST yields down -0.8bp at 4.197% and 2y yields down -0.6bp at 5.003%.
  • Bund futures are up 0.37 today at 132.28 with 10y Bund yields down -2.0bp at 2.541% and Schatz yields down -1.1bp at 3.040%.
  • Gilt futures are up 0.01 today at 945.56 with 10y yields up 0.7bp at 4.446% and 2y yields up 0.6bp at 5.290%.

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