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Drops 40 ticks on the cash open

BUNDS
  • Bund has ticked lower overnight, unwinding some of yesterday's pushed back higher, on below average volumes.
  • Bund gets hit and drops 40 ticks on the cash open, with a small pick up in volume.
  • The initial resistance seen at the 132.06 area has held, with the contract printing a 132.02 high yesterday.
  • Small support moves up to 131.16, did print a 131.10 low on the cash open.
  • There's no tier 1 data out of Europe, and on the other side of the Atlantic, only US IJC is scheduled, as the street awaits on the US NFP tomorrow.
  • SUPPLY: Ireland 2032, 2037, US sells $18bn of 30yr reopening.
  • SYNDICATION: BTP Italia 5yr inflation linked, but won't impact BTPs.
  • SPEAKERS: Fed Barr (on Crypto), ECB Vujcic.

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