October 10, 2023 06:20 GMT
Off the high post Cash open
BUNDS
- Bund has now gained 162 ticks, since gapping Yesterday on safe haven flows, and some desks also likely taking some short off, as Geopolitical concerns come at the forefront.
- The contract traded in a 18 ticks range, but has nonetheless tested Yesterday's high, printed 129.45 vs a 129.47 overnight.
- Just now, FVZ3 is sold in 2.5k, through its session low, helping Bund lower.
- Next resistance is at 129.70 50% Sep - Oct Downleg.
- This retracement level in Yield is at 2.736%.
- Support moves up to the 128.71/128.68 area, followed by 126.85 (gap).
- Another lighter day on the data front, Italian IP, Greece CPI, US Final Wholesales are the notable releases, but unlikely to really move the needle.
- BOE releases minutes of financial policy meeting.
- SUPPLY: UK and Germany are only linkers, won't impact Bund nor Gilt. Focus is on the US today, selling $46bn of 3yr notes.
- SPEAKERS: Fed Perli, Bostic, Waller, Kashkari, Daly, ECB Villeroy.
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