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Off Best Levels

BUNDS

Bund futures edge away from best levels with the flash Eurozone PMI readings not running as soft as the combination of German & French survey prints indicated (futures had moved away from best levels into the Eurozone readings). Futures last +30 or so, ~30 ticks back from best levels after managing to pierce the July 18 high on the initial national PMI-induced run higher. German cash benchmarks are 2.5-5.5bp richer, with bull steepening in play on the curve.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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