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In the red going into the European session

  • There's very little change for Bund, with the contract seeing a small gap lower overnight, after rallying post US data miss for IJC and a touch lower revision for PCE.
  • Upside momentums were helped by Month End Bond extension as newly issued Bonds were added back to respective indices Yesterday afternoon.
  • The contract did found a base close enough to the 2.50% mark in 10yr Yield, printed a 2.512% high.
  • Despite breaking the 132.05 level Yesterday, initial support is again seen at that level, followed by the 131.74 area, although did print a 131.62 low Yesterday.
  • Resistance is at 132.59, followed by 132.80.
  • Today sees final Manufacturing PMIs, should have limited impact, main focus will be on EU, Italian prelim CPIs, and US ISM Manufacturing/price paid.
  • US Michigan will be final reading.
  • SUPPLY: Belgium 2031 and 2037, but too small won't impact Bund.
  • SPEAKERS: There are plenty of speakers for today, it includes ECB Holzmann, BoE Pill, Fed Barkin, Goolsbee, Waller, Logan, Bostic, Daly, Kugler.

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