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New 2024 high for the German 10yr Yield

BUNDS
  • A fresh 2024 high for the German 10yr Yield following the EU CPI beat on the YoY, and core YoY.
  • Desks will now likely look for a Hawkish cut from the ECB next week, when a 25bps cut has widely been talked about by ECB members, and is now the median from the Economists surveyed by Bloomberg.
  • In terms of pure technical, support comes at 128.75 Low May 29.
  • Looking at Yield, the next area of interest will be seen at the 2.75/2.76% level.

Today reference 128.81:

  • 2.75% = 128.28.

Chart source: MNI/Bloomberg

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