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CROSS ASSET: New lows for US Treasuries, leading Bund lower

CROSS ASSET
  • Tnotes breaks through another low, now making an attempt at the figure, but some way short of Yesterday's lows, still volumes are very subdued, and not seen any notable clip size on the downside for the US.
  • Although the Tnotes/Bund spread is showing some slight widening, both are mostly trading inline, after the Bund futures caught up with the US in early trades.
  • The German Bund underperforms Core, sermi core EGBs so far Today.
  • USDJPY continues to recover, but well within the wide Overnight range.

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