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Core Govies push to session high

BONDS
  • Bund and Treasuries are extending higher, with Bund gaining just 10 ticks since the Equity cash open, moves are still overall limited, ignoring corp Issuance so far today, hence quite difficult to fully put some total weigh regarding Yesterday's selling.
  • Gilt opened higher than expected, aided by the early bid in the SONIA Strip.
  • Nonetheless, resistance in Bund is still at 132.80 initially, and the Netherlands and the Long end German Supply may limit some of the bounce going into their respective bidding deadlines.
  • Support in Bund is at 132.05.

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