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Good pick up in Volumes in the US

BUNDS
  • Very little change for Bund overnight, but a clear pick up in Volumes for Treasuries as desks come back from their Holidays.
  • TYU3 is forming a good support at 111.25+, the June low.
  • For Bund, the contract has found support just short of the 2.50% level in Yield, printed a 2.481% high Yesterday.
  • Support remains at the 132.62 area, followed by 132.47 initially.
  • Resistance is at today's high, 133.28, and above the latter, opens back to 133.88.
  • Today sees, Global services PMIs, but final for FR/GE/EU/UK. Out of the US, Factory orders, and final Durable goods.
  • ECB publishes consumer expectations survey, and US FOMC minutes is also due.
  • SUPPLY: German EU1bn 2033 (equates to 7.6k Bund) won't impact Bund.
  • SYNDICATION: Latvia 10yr (small, won't impact Govies).
  • SPEAKERS: ECB Nagel, Visco, Villeroy, de Cos, Fed Williams, but unlikely to hear anything new, with the main focus on US NFP/AHE Friday this week.

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