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Edging lower so far this morning

  • Bund tested yesterday's low at 150.56, printed 150.55 low.
  • BTP and Bund lead the way lower, and spread are in turn widening.
  • Greece was tighter earlier, but has now faded and trades 4.6bps wider.
  • Gilt eye small support at 115.03, and a break through the latter, would open to 114.60.
  • Some downside continuation, following the news that PM Boris is resigning, but more of a knee jerk reaction in the Pound.
  • Some likely short term squaring, but volumes are still on the lower side, with most investors turning their attention to the US NFP tomorrow, this will be an ALL EYES release.

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