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USDCAD TECHS

Bears Still in Control

AUDUSD TECHS

Tops 0.80 as Reflationary Theme Rolls On

SILVER TECHS

Volatile, Outlook Remains Bearish

EURJPY TECHS

Accelerates Off Bull Trigger

Month-end puts Bunds under pressure

EGB SUMMARY

Bunds (and core fixed income in general) are under some fairly decent pressure this afternoon with month-end rebalancing flows likely responsible for shifting money from fixed income into equities. However, Bunds remain above their key near-term support at the 20-ema which comes in at 174.19.

  • Peripheral bonds are also moving lower, but spreads are mixed. BTP spreads have narrowed while Spanish and Portuguese spreads have widened.
  • Bund futures are down -0.36 today at 174.51 with 10y Bund yields up 1.8bp at -0.528% and Schatz yields up 0.9bp at -0.705%.
  • BTP futures are down -0.32 today at 147.77 with 10y yields up 0.5bp at 0.856% and 2y yields down -0.2bp at -0.232%.
  • OAT futures are down -0.39 today at 168.62 with 10y yields up 1.9bp at -0.249% and 2y yields up 0.3bp at -0.667%.
MNI London Bureau | +44 203-865-3820 | tim.davis@marketnews.com