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Early focus on the German 5s/30s

BUNDS
  • A limited range for the Bund on the cash open. FTQ are still favoured on the margin, following then big falls in Equities yesterday.
  • Immediate resistance for the contract is at this week's double top, 177.24.
  • Both 2s/10s and 5s/30s, lean bull flatter on the margin.
  • But more focus on the 5s/30s, which trades at this week's low, and lowest level since the 5th of February.
  • We have no tier 1 data left for the session, while on the speaker front, Fed's Kaplan speaks at Texas tech college of business, where he will take questions from the audience.

Chart source: Bloomberg

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