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German 2yr Yield highest since November

BUNDS
  • Bund is finding some support ahead of the figure, and post UK PMIs.
  • Next initial area of interest comes at 129.94 (gap).
  • German 2yr Schatz has been leading, and although the 2s/10s was mostly flatter in early trade, latest moves have seen some steepening as the Bund caught up with the European PMIs out of the way.
  • Schatz June contract has printed a contract low, but finds support at the Psychological 105.00 level, printed a 105.005 low.

In Yield terms, the German 2yr is now at its highest level since November, and today reference 105.02:

  • 3.10% = 104.925.

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