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Germany is now leading lower

BONDS
  • Germany is now leading EGBs lower and notable volumes so far the session, especially ahead of the US Data.
  • Recall, yesterday saw record volumes for the March contract in Bund, BTP, OAT and Gilt futures on the way up.
  • More notable sizes ar going through in the 5yr Bobl.
  • Support in Bund is further out, to 137.90 (50 day EMA).
  • Below the latter, sees 137.79, not a tech level, but where the contract was trading pre ECB.
  • Further out, would see 137.25, where the contract was trading around, pre BoE.
  • Support in Bobl is at 117.81 (50 day EMA).

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