September 02, 2024 06:46 GMT
Hawkish RTRS ECB Source Report Weighs
EGBS
Bund futures now through the 50-day EMA (133.41), printing as low as 133.37.
- The previously covered hawkish ECB source report from RTRS helps keep the pressure on early this week.
- Cash trade sees a fairly parallel ~3bp shift higher in German yields, with 10s trading at the highest level in over a month, back above 2.30%.
- The early August risk-off spike has now been fully unwound.
- EGB spreads to Bunds little changed to start the week, sitting within 0.5bp of Friday’s closing levels.
83 words