Free Trial

In the red going into the European session

BUNDS
  • 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.

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.