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NRW CPI points to some upside but Bunds off lows of day

BUNDS
  • Bund futures hit a low of 134.18 just after 6:30BST/7:30CET but we are now back trading at 134.35 at writing, marginally below prevailing levels ahead of the data (although we have still not made up the drop from about 134.63 seen at 6:13BST / 7:13CET.
  • National is expected to come in at +0.2%M/M - so this 0.3%M/M print points to some potential upside.

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