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Day ahead

BUNDS
  • Bund remains at mid yesterday's range on the cash open, and will likely stay range bound until the European prelim PMI release.
  • German curves trades flat, with 5/30s off yesterday's high at 88.137, now at 86.757.
  • Focus today will be on PMI release for Europe and the US.
  • Speakers; Include ECB de Guindos, Lagarde, Fed Bowman, Bostic, Rosengren.
  • SUPPLIES: We get UK linker (no impact for Gilts), German 15yr EU2.5bn (Equates to 23k Bund), unlikely to weigh too much in early trade, and out of the US 5yr Note and a 2yr FRN.

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