May 12, 2022 06:28 GMT
- On the margin a steady overnight session for Bund, but the contract trades through the May's high that was at 154.19, following the UK GDP miss, also Ukraine, Brexit (back in the mix), is keeping the contract underpinned.
- Yesterday's US CPI, saw Airfare as the big outlier, but desk still favour for inflation to soften in the coming Months.
- The overnight risk off tone has kept core Govies favoured on FTQ, and USD acting as a safer haven.
- BITCOIN is clear through the big 28,824.32 support, and this could have some repercussions on private investors.
- Next psychological support is at 20,000, and below the latter, would open to 19,272.91 (76.4% retrace of the 2020/2021 rally).
- There are no tier 1 data due for Europe, and attention this afternoon will be on the US PPI.
- SUPPLY: Ireland 10, 20y, Italy 3y, 7y, 30y, US 30y.
- SPEAKERS: ECB de Cos, Makhlouf.
Chart source: MNI/Bloomberg