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BUNDS: Underpinned into the EU session

BUNDS
BundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets
  • Early price action in the Bund has been {gb} UK driven following a sudden turnaround and Dovish interview with the Guardian from BoE Andrey Bailey.
  • It is still quite a limited range for the German 10yr overnight going into the Cash open, but the contract jumped some 14 ticks and is testing session high, as European Desks start to join the session, still only a 17 ticks range post Cash open.
  • Price action in Tnotes has been more limited, and is sticking within its tight 4.5 ticks overnight range, while forming a short term base at 114.07 (TYZ4).
  • Resistance in Bund moves down to 135.49, followed by the 136.00 figure, but more importantly the 136.27 area (2% Yield).
  • Support is at 135.04.
  • Data are again picking up today, they include, Swiss CPI, Services PMIs but final readings for France, Germany, EU, UK, US, UK DMP, EU PPI, US IJC, Factory orders, ISM Services/price paid, and final durable Goods.
  • SUPPLY: Spain 3s, 5s, 15s, and {fr} France 10s, 25s, 30s.
  • SPEAKERS: Fed Schmid, Kashkari, Bostic.
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  • Early price action in the Bund has been {gb} UK driven following a sudden turnaround and Dovish interview with the Guardian from BoE Andrey Bailey.
  • It is still quite a limited range for the German 10yr overnight going into the Cash open, but the contract jumped some 14 ticks and is testing session high, as European Desks start to join the session, still only a 17 ticks range post Cash open.
  • Price action in Tnotes has been more limited, and is sticking within its tight 4.5 ticks overnight range, while forming a short term base at 114.07 (TYZ4).
  • Resistance in Bund moves down to 135.49, followed by the 136.00 figure, but more importantly the 136.27 area (2% Yield).
  • Support is at 135.04.
  • Data are again picking up today, they include, Swiss CPI, Services PMIs but final readings for France, Germany, EU, UK, US, UK DMP, EU PPI, US IJC, Factory orders, ISM Services/price paid, and final durable Goods.
  • SUPPLY: Spain 3s, 5s, 15s, and {fr} France 10s, 25s, 30s.
  • SPEAKERS: Fed Schmid, Kashkari, Bostic.