June 18, 2024 09:49 GMT
German Bonds tick lower
BONDS
- Bobl is sold in 5k, helps to keep the German Bond strip closer to its intraday lows.
- Bund still sees initial support at 131.97.
- The Bobl supply could have been weighing earlier in the 5yr part of the curve given the lower liquidity so far this Morning, compared to the last 8 sessions.
- As such the 5s/10s and 10s/30s curves are on the flatter side.
- Although this weekend's news that Le Pen was willing to work with Macron has helped some of FTQ unwind, Bund is still some 269 ticks away from last week's low.
- The underperformance in German Bond futures keeps the OAT/bund spread tighter, with some Investors likely favouring fading off that Psychological 80bps level Yesterday, was the widest print since 2012.
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