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Bunds selling off and spreads widen on Schnabel comments

EGBS

ECB Executive Board member Isabel Schnabel has been reported by Bloomberg as saying that ECB stimulus "should sustain not ease financial stance" and also said that the "ECB isnt obliged to do what markets expect from us".

  • Bunds are under pressure and futures are approaching the key near-term support at 174.96. This level represents the November 25 low. Our technical analyst notes that a break would reinstate a bearish focus.
  • BTPs are now around 60 ticks lower on the day, taking out yesterday's low of 150.99. Our technical analyst notes key near-term support at the November 18 low of 150.39 (at writing trading 150.52).
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