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Day ahead

BUNDS

All attention turns to the US NFP, which should be more interesting if we get a decent beat.

  • Bund is uneventful on the cash open, sticking to its 9 ticks overnight range (172.57-172.66), and trading just 2k lots since 07.00BST, as we await the US employment data.
  • Curves are mixed given the tight ranges, with curves leaning a touch steeper, but lacking direction.
  • No tier 1 data out of Europe, while in the US, besides NFP, sees AHE, Factory orders and Durable goods, although final reading for the latter.
  • SPEAKERS: ECB de Cos (on climate), and Lagarde.
  • Other event, which won't affect Bunds, but will be of interest for stocks and FX, will be OPEC talks set to continue, given that a deal was blocked at the last minute.

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