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EURGBP TECHS

Attention Is On Resistance

GBPUSD TECHS

Through 1.4000

EUROZONE T-BILL ISSUANCE

Bill Supply For W/C May 10, 2021

EURUSD TECHS

Resumes Its Upleg

EUROSTOXX50 TECHS

(M1) Clears 4000

BTP TECHS

(M1) Clears Key Support

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  • Germany will re-open the 0% Apr-26 Bobl today with EUR4bn on offer.
  • The issue was last tapped on 7 April with E3.31bn allotted at an average yield of -0.66%, Buba cover of 1.71x and bid-to-cover of 1.41x.
  • Recent German auctions see robust demand, although coverage ratios have tended to be lower than for OATs and BTPs.
  • Following yesterday's sharp rally, EGBs have started today's session on a weaker footing. A slew of composite and services PMI prints for the euro area, published ahead of this morning's auction, could serve as a potential catalyst for price action across EGBs.
  • TIMING: Results are due out shortly after the auction closes at 1030GMT.