Free Trial

Manufacturing PMIs and supplies the early focus

BUNDS
  • Bund has found a small bid on the cash open, after the big miss in German retail sales, with an uptick in volumes as we start the session.
  • Regardless the contract has tested through the initial yield target at -0.379%.Risk remains tilted to the downside, after the latest hawkish comment from ECB speakers.
  • Next target in yield is now at -0.343%.
  • Focus today, will be on Global Manufacturing PMIs, but will be final readings for France, Germany, EU and UK.
  • SUPPLIES: UK 2029 £2.5bn (Equates to 17.7k Gilts), and German Bobl EU4bn (Equates 34k Bobl), should keep the upside in the 5yr limited in early trading.
  • SPEAKERS: ECB's Weidmann at Bundesbank symposium, and Fed Bostic discusses bringing an inclusive Economy

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.