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Trend Needle Points South

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Fed Terminal Up To 5.06% in June 2023

AUDUSD TECHS

Heading North

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Heavy supply this morning

BUNDS
  • A decent overnight session for Bund, trading just over 10k and 139 ticks range pre cash open.
  • Despite the small overnight bounce the contract remains in deep red territory, with 10yr Yield still trending to its highest level since 2011.
  • Support will be at yesterday's low, 137.41, while small support moves down to 138.19.
  • There's no tier 1 data for Europe, but watch heavy supply this morning.
  • Out of the US, prelim Durable Goods takes centre stage.
  • SUPPLY: Heavy supply this morning, Netherlands EU5bn 30yr (equates to 32.2k Buxl), should weigh into the bidding deadline. Italy EU2.5bn 2yr (equates to 17.4k short BTP) should weigh, plus 2033 linker (won't impact BTP).
  • German EU3bn Bobl (equates to 24.2k Bobl). US sell $44bn of 5yr notes.
  • SPEAKERS: ALL EYES will be on Pill, after the UK Government pushed the BoE into a corner.
  • Other speakers include ECB Villeroy, Centeno, Panetta, Guindos, Fed Powell, Evans, Bullard and Kashkari.
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  • A decent overnight session for Bund, trading just over 10k and 139 ticks range pre cash open.
  • Despite the small overnight bounce the contract remains in deep red territory, with 10yr Yield still trending to its highest level since 2011.
  • Support will be at yesterday's low, 137.41, while small support moves down to 138.19.
  • There's no tier 1 data for Europe, but watch heavy supply this morning.
  • Out of the US, prelim Durable Goods takes centre stage.
  • SUPPLY: Heavy supply this morning, Netherlands EU5bn 30yr (equates to 32.2k Buxl), should weigh into the bidding deadline. Italy EU2.5bn 2yr (equates to 17.4k short BTP) should weigh, plus 2033 linker (won't impact BTP).
  • German EU3bn Bobl (equates to 24.2k Bobl). US sell $44bn of 5yr notes.
  • SPEAKERS: ALL EYES will be on Pill, after the UK Government pushed the BoE into a corner.
  • Other speakers include ECB Villeroy, Centeno, Panetta, Guindos, Fed Powell, Evans, Bullard and Kashkari.