December 06, 2024 10:08 GMT
BUNDS: Looking to test support
BUNDS
- German Bund is still ticking lower, nothing fast, one tick at a time, US Tnotes was the early leader pushing Bund Yesterday during the Morning session, Today it is the Bund's turn.
- As noted Yesterday, both contract were trading in tandem, the 10yr spread was moving between 0.8bps wider to tighter and overall closer to flat.
- The price action today is seeing similar move with spread moving with 1bp, but still closer to flat in the bigger picture.
- Yesterday's low at 110.28+ will be seen as the initial support for TYH5.
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