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Eyeing next support

BUNDS
  • Bund makes another attempt at this week's low, as noted on the open the Heavy supply was the main focus in Govies for the European Morning session, and has weighted on Govies with the OAT dipping lower during the bidding deadline on Hedging needs.
  • There's still some French linkers due in circa 30 minutes, but these shouldn't impact Bund.
  • Support in Bund is still seen at 131.97 initially, and break through the would open to 131.58, although price action could still somewhat limited with European Desk's focus slowly turning to the Services PMIs due Tomorrow.
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