Free Trial

BUNDS: Heavy suppply and Fed Powell are in focus Today

BUNDS
  • There's very little change for Bund, although the overnight session sees a slightly wider range, volumes on both sides of the Atlantic are on the low side.
  • Bund and Tnotes are offered, after Trump ordered a 25% Tariff on all Steel and Aluminium Imports, but the German contract remains within the Initial support of 132.72 and resistance at 133.86.
  • For the US 10yr, TYH5 is testing trendline right here at 109.03, although most desks will look for immediate support at 109.01, the fast market printed low, post NFP.
  • This is a lighter Week on the Data front, with the US CPI (Wednesday) the key release, and for the UK, GDP (Thursday).
  • There's no notable Data due for today.
  • BoE Mann gave an Interview with the FT Yesterday, so today could be a lesser event, attention will be on Powell who testifies at the Senate.
  • SUPPLY: Early focus will be on supply in Europe and later in the US, Netherlands €2bn 2047 (equates to 30.3k Bund) should weigh, Germany €5bn Bobl (equates to ~47.5k Bobl) will weigh. US Sells $58bn of 3yr Notes.
  • SYNDICATION: EU 2031 Tap/2050 Green, Italy 2040, UK 2035.
  • SPEAKERS: BoE Mann, Bailey, Fed Powell, Hammack, Williams, Bowman, ECB Schnabel.
194 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • There's very little change for Bund, although the overnight session sees a slightly wider range, volumes on both sides of the Atlantic are on the low side.
  • Bund and Tnotes are offered, after Trump ordered a 25% Tariff on all Steel and Aluminium Imports, but the German contract remains within the Initial support of 132.72 and resistance at 133.86.
  • For the US 10yr, TYH5 is testing trendline right here at 109.03, although most desks will look for immediate support at 109.01, the fast market printed low, post NFP.
  • This is a lighter Week on the Data front, with the US CPI (Wednesday) the key release, and for the UK, GDP (Thursday).
  • There's no notable Data due for today.
  • BoE Mann gave an Interview with the FT Yesterday, so today could be a lesser event, attention will be on Powell who testifies at the Senate.
  • SUPPLY: Early focus will be on supply in Europe and later in the US, Netherlands €2bn 2047 (equates to 30.3k Bund) should weigh, Germany €5bn Bobl (equates to ~47.5k Bobl) will weigh. US Sells $58bn of 3yr Notes.
  • SYNDICATION: EU 2031 Tap/2050 Green, Italy 2040, UK 2035.
  • SPEAKERS: BoE Mann, Bailey, Fed Powell, Hammack, Williams, Bowman, ECB Schnabel.