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Barclays on BRCP: Maintain 50Bp Hiking Pace


10Y Call Spd


Remains Vulnerable


Oil Up As Saudi Raises Prices, Omicron Fears Subside

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  • A very light overnight session for Germany, and Bund.
  • The contract has held the yield level so far, albeit printing a -0.202% vs -0.210% resistance.
  • Medium, longer term outlook is unchanged and tilted to the downside, but liquidity will likely be more subdued with the US holidays.
  • German curve is flat on the cash open, albeit leaning bull steeper looking at the chart.
  • The curve continues to move back from the flattest levels printed since March 2020, on the 29th October.
  • There's nothing left on the data front for today. and Investors are squarely focused on the forward picture and key Data ahead of the December CB meetings. Fed is on the 15th, ECB and BoE on the 16th.
  • These include German CPI (Monday), US NFP (3rd Dec), US CPI (10th Dec), US PPI (14th Dec), UK CPI (15th Dec)
  • SUPPLIES: Italy sell up to EU2.25 Billion of 0% 2024 Bonds (equates to 20k BTPS), and linkers..
  • SPEAKERS: Includes ECB Lagarde, Villeroy, Elderson, Schnabel, BoE Bailey as well has the ECB minutes ("account").