Small unwind in the BTP/Bund spread, now sitting 1.4bp wider, after the spread tested its lowest level since the 24th January yesterday at 177.04bps, now trading at 178.4bps.Support in the spread are seen at 174.67, followed by 169.85, the 2023 low and tightest print since April 2022.
Bund remains within the post cash open range, with contract trading at circa 131.56 on the open, when it got sold to push the contract 40 ticks lower, now trading at that mid range 131.25 vs 131.07/131.56 range.
Most desks are on the sidelines ahead of the NFP tomorrow.
Most of the early action has been in Equities, drifting lower, and FX, with the Dollar offered, and broad base buying of the Yen.

Chart source: MNI/Bloomberg

Homepage Commodities Equities Bullet Markets Fixed Income News Foreign Exchange News

Fabrice Ben Hassine

Homepage Commodities Equities Bullet Markets Fixed Income News Foreign Exchange News

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Early action has been in Equities and FX