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Extends higher post cash open

BUNDS
  • Bund has gapped higher, following Israel declaring war on Hamas, as desks favoured safer haven.
  • The contract is eyeing the initial resistance at 128.45 testing now, did print a 128.50 high last Monday.
  • Above the latter, opens to 128.79 and 129.30.
  • Support will be at 127.85 (gap from 128.17).
  • There's no data for the session, but plenty of focus on CPIs this week.
  • SUPPLY: It's a lighter week for Europe, most desks will be looking out for the US 3s, 10s and 30s this week.
  • SPEAKERS: ECB Guindos, Centeno, de Cos, BoE Mann, {us} US Logan, Barr, Jefferson.
  • Also of interest, Incoming ECB Cipollone will be at EU Parliament.

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