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Free AccessFocus on supplies and syndication this morning
Bund are underpinned on the open, despite some extension higher in Equity futures on the European opening bell.
- Decent volumes are again going through in the first 10 minutes of trading, but this time, mostly spread related
- Sep/Dec has traded 9k outright so far, and rolling position will dominate, with last trade next Tuesday.
- Very little on the data front, Spanish Unemployement and EC PPI are set for release.
- Some focus on German supply, selling EU4bn 0% Bobl (Equates circa 34k Bobl, 13k Bunds).
- BTP are outperforming Bund, and as such, move 1.3bp tighter on the open.
- German curve is bull flatter on the margin, but trading at mid range.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.