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Day ahead

BUNDS
  • Bund saw clip sellers post cash open as we fade some of yesterday's bid, closing out the first half of the year.
  • Initial support for the contract moves up to 172.34.
  • Another busier day on the data front, with EU and US Manufacturing PMIs. US Data also include IJC and ISM manufacturing.
  • SPEAKERS: ECB Lagarde, de Cos, BoE Bailey, and Fed Bostic.
  • SUPPLIES: Plenty of supplies for today, with Spain 2026, 2028, 2050 and a 2033 linker, France 2030, 31, 36, 40, and UK £3.5bn 2025 (equates to 12k Gilts).

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