May 02, 2024 06:13 GMT
Gapped higher on the open
BUNDS
- Bund saw a ~30 ticks upside opening gap, catching up with the underpinned US Treasuries following a less then Hawkish Fed, forcing some shorts to cover last night.
- Nonetheless, Bund is pretty much trading at Friday's mid range as Europe comes back from their Holiday.
- Small resistance in Bund is seen here at 130.53, testing now (printed a 130.55 high), followed by 131.00.
- Initial support is at 129.83 Friday's low.
- Today sees, Swiss CPI, final Mfg PMIs for France, Germany, EU, US IJC/Factory orders, and final Durable goods.
- SUPPLY: France 10s, 20s, 30s.
- SPEAKERS: ECB Lane.
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