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Came under real pressure

BONDS
  • German 10 year is clear through the the multi year high tested this week at 0.55%, and next target area is at 0.60% = 158.18.
  • Some of the Bank have upped their Fed call to 50bps, with Citi now going for 50bps hike at the next 4 meetings.
  • The move was clearly a rate driven move, with Bonds and Short end strip (Eurodollar), all moving lower.
  • US 10yr made an attempt at the next yield target of 2.5%, printed a 2.4731%.
  • Note 2.50% equates circa 121.22
  • Volume has clearly picked on the way down, with mostly 4k/5k clip sellers, these are cumulative volumes.
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