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ECB in focus

BUNDS
  • Bund drops 16 ticks on the cash open, fading from the overnight high to touch session low.
  • German 5/30s still extends to flattest levels since the 1st March, with next support on that date's low at 72.729.
  • Safer haven assets are favoured, on Delta variant Covid spikes risk across the Globe.
  • In Yield terms, "mind the gap", with next 10yr level coming at -0.401%, which today, reference 175.14 would equate to 175.89.
  • Focus this week turns to the ECB.
  • Today, sees no tier 1 data, and on the speaker front BoE Haskell (dove) is scheduled.
  • US Earnings continue, with IBM after market today.


Chart source: Bloomberg

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