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Off Early Lows

BUNDS

Major German FI futures fade their early move lower, which came on the back of generally firmer than expected UK retail sales data for April, although negative revisions to the March readings likely countered the initial impulse. Note that Bund futures had a look below yesterday’s base on the move, but bears couldn’t push the envelope further towards more meaningful technical support levels, with the contract regaining the 133 handle to last trade -45 or so ticks on the day.

  • The major German cash benchmarks are little changed to 0.5bp cheaper across the curve early on.
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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