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Equities and Bonds

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Better buying in EU cash Equity since the open, provides a bid for the Futures contract. .

  • This could keep the lid on Bund, as well as the Spanish and French supplies, with delta hedging more likely going into the respective bidding deadline.
  • Nonetheless, range in the Bund (171.00-171.27), and volumes at 67% of the 10d average, between 07.00 and now, just tells the story
  • Recovery in Equities albeit still short of the April fall for VGM1, and lower US yields keeps the USD offered.


Chart source: Bloomberg

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