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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.
BUNDS
- Very little changed for Bund, but the contract still trade at its lower part of its 102 ticks range for this week, albeit still short of the 128.31 support, Friday's low, and failed to test the upside resistance seen at 129.75 (gap).Support is still at 128.31, while small resistance moves down to 129.12.
- PLEASE NOTE: HUGE volumes went through last night in Tnotes, as desk report, with over 200k (see chart) trading at 19:58GMT to 20:00GMT. from 106-025 to 106-00, also some 50k at 19:00GMT.
- These aren't likely related to Month End since they are not only to the downside, with Month End only small for the US this Month, also these were quite late in the session to see these type of flow.
- Some possibility that it could have been related to the Quarterly refunding due today at 08.30ET/12.30GMT, or some type of margin calls.
- Today sees, some Manufacturing PMIs, US ADP, JOLTS and ISM, as well as the FOMC, but the main focus is on the refunding announcement.
- SUPPLY: UK 2028 (equates to 16.2k Gilt) should have limited impact on the contract. German 2030 (equates to 18.3k Bund) should have limited impact.
- SPEAKER: Fed Powell presser.
Chart source: MNI/Bloomberg
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.
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