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Italian supplies in focus

BUNDS

A steady open for Bund, with a flat curve.

  • Yesterday afternoon saw some dislocation across assets, with Equities, Govies, USD, Gold up while Oil was down at some stage.
  • Some of the afternoon leg higher in Bund may have been driven by some swapped issuances.
  • Focus today, very little in term on the data front once again, while in term of speakers, ECB de Cos is scheduled
  • SUPPLIES: Once again more focus on supplies and issuance today.
  • Italian 3,7, and 30s will be in focus this morning (equates combined 55.6k Bunds), which should keep the upside limited into the bidding deadline.

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