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Initial trendline holds

BUNDS
  • Bund trendline still holds (posted on the open), as desks await the next set of Regional German CPI at the top of the hour.
  • Latest flow is in Bobl spread, but still quite subdued in Bund.
  • Next upside resistance for Bund is at 136.38.
  • Equities have bounced off their lows, more of an unwind, but are still trading in the red.
  • In Cash stoxx600, Food beverage & Tobacco, Auto/parts are the leading losers.

Chart source: MNI/Bloomberg

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