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More RECeiving interest

BUNDS
  • More RECeiving interest this morning, as Govies recover, consolidate some of the sell off, with investors favouring some fading off the 10yr 2021 peak in Germany.
  • Bund December contract has pretty much dropped a whopping 427 ticks since the September expiry.
  • EU 10yr swap sees support at 0.2146 (23.6% retrace of the August/October rally)Bund closed this weeks gap at 169.20 (did print 169.29 high).
  • Further upside momentum would open to 169.40.

Chart source: Bloomberg

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