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German10yr Yield remains close to the December peak

  • Bund has fallen 619 ticks throughout February, and the contract remains close to the December high in Yield, also the highest print since July 2011.
  • The December high in Yield is at 2.574%, which equated to 133.60 yesterday, and this will be the support to watch in the futures contract.
  • Resistance is at 134.97.
  • Today sees German regional CPIs, German IFO, and Italian final CPI.
  • There's no notable data out of the US, and all the focus will be on the FOMC minutes.
  • SUPPLY: Italy EU 3.75bn 2y (equates to 32.2k short BTP) should weigh, plus linker, UK £2bn 2053 (equates to 20.6k Gilt), German EU5bn 10yr Bund (equates to 37.4k Bund) should weigh into the bidding deadline.
  • US sells $43bn of 5yr notes and $22bn of 2yr FRN reopening.
  • SPEAKERS: Riksbank Thedeen on Economy, Monetary Policy, Fed Williams on Inflation.

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