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Focus is on Italian supplies

BUNDS

Bund opens within yesterday afternoon's ranges, as Equities continued to march on.

  • As noted yesterday, incredibly S&P was looking to test the all time high, and this was nearly achieved, printing 3387.89 versus 3393.52 made on the 19/02
  • German curve is bull flattening on the margin.-Very little on the data front and focus turns to supplies this morning with Italy 3/7/30s, which should keep upside limited on delta edging.
  • Technically, MNI tech initial support is seen at 176.16

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