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BUNDS: EGBs are paring gains

BUNDS
  • A full reversal for Bund, albeit still in very contained ranges overall, surprisingly the Bobl outperforms somewhat, but the strip is still nonetheless closer to their earlier lows.
  • Schatz is sold in 5.3k, Bund 5.2k cumulative volumes, no Block.
  • Italian BTP is holding onto gains, helping keep the spread vs Bund 2.4bps tighter, and some of the pullback lower is met by buying interest, BTP is bought in 3k in three clips.
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  • A full reversal for Bund, albeit still in very contained ranges overall, surprisingly the Bobl outperforms somewhat, but the strip is still nonetheless closer to their earlier lows.
  • Schatz is sold in 5.3k, Bund 5.2k cumulative volumes, no Block.
  • Italian BTP is holding onto gains, helping keep the spread vs Bund 2.4bps tighter, and some of the pullback lower is met by buying interest, BTP is bought in 3k in three clips.