May 26, 2023 07:29 GMT
Cheapening On Gilt Impulse
The impulse from Gilts drags Bunds back the other way, with cheapening coming back to the fore. That has allowed Bund futures to register a fresh session low, while cash Bunds run 2-3bp cheaper, with a light steepening impulse observed. Fibonacci support at 132.71 presents the next technical target for bears.
- Peripheral spreads are little changed at the 10-Year point.