Trial now

Runs Counter to Trend


Fed Bounce Stops Short


Bearish Trend Conditions


Bearish Threat


(U1)‌‌ Bullish Focus

Sign up now for free access to this content.

Please enter your details below and select your areas of interest.

ECB took center stage this afternoon, but really nothing new overall or exciting.

Nonetheless Bund saw a knen jerk price action post the statement.

The contract initially sold off a few ticks, but quickly reversed to the upside.

Some of the bid were also caused by the US IJC miss, combined with a higher revision.

Bund is off its best levels at 175.74 at the time of typing, after printing a 176.00 high.

Peripherals have tightened a little bit more this afternoon, with Portugal and Spain by 2.4bps.

Gilts have traded in line with EGBs this afternoon, and the UK/German 10yr spread trades flat on the session.

We have nothing left of the calendar, and attention will turn to EU, UK and US PMIs releases tomorrow.

Gilt futures are up 0.12 today at 129.49 with 10y yields down -1.1bp at 0.591% and 2y yields down -1.7bp at 0.080%.

Bund futures are up 0.21 today at 175.74 with 10y Bund yields down -1.2bp at -0.408% and Schatz yields down -0.3bp at -0.722%

BTP futures are up 0.46 today at 153.71 with 10y yields down -2.9bp at 0.658% and 2y yields down -1.0bp at -0.428%

OAT futures are up 0.30 today at 161.56 with 10y yields down -1.8bp at -0.65% and 2y yields down -0.2bp at -0.683%.