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Focus on Prelim PMIs releases

BUNDS
  • Bunds stays in a tight 10 ticks range on the cash open, given a very quiet overnight session, with cash markets in Japan closed.
  • Bund is nonetheless back towards the 176.00 handle, and we do have a small opening gap up to 176.03, high so far is 175.93.
  • The 10yr Yield support of -0.442% has so far held.
  • Today, reference 175.87, yield would equate to 176.31.
  • Bund traded 176.28 high this week, which was the highest level since March.
  • Focus today Turns to Prelim European, UK, and US PMIs Services.
  • ECB survey of Professional forecasters.
  • RATINGS: Moodys on Cyprus and DBRS on EFSF, ESM

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