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Long end Germany edges back towards the overnight high

BONDS
  • Schatz has officially traded more volume so far today, than the whole day yesterday.
  • No surprises that the shorter end leads, given some of the latest Hawkish rhetoric.
  • German 2yr yield has pullback from the 0.179%, and highest level since 2nd May 2014, now at 0.118%.
  • Some position squaring, ahead of Lagarde, push the long Bund and Buxl back towards the overnight high.
  • Bund sees small (2 ticks) gap to 154.68 as the initial resistance, 154.66 is the session high.
  • Treasuries are getting dragged, TYA bought in 6k cumulative, and USA in just over 1k.Still much lighter volumes overall, with most of the bulk done during the European morning session.

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