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Opening gap holds

BUNDS

Bund Basis trade, suggest Cash buyer:

  • RXZ4 1.5k at 13.72.
For the futures, the German Bund has found some support at the noted opening gap down circa 134.70, did print a 134.68 low, but has bounced for now.
  • Although the BTP still outperforms somewhat, the spread is off its tightest level, now only 0.9bp tighter vs the German 10yr.
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Bund Basis trade, suggest Cash buyer:

  • RXZ4 1.5k at 13.72.
For the futures, the German Bund has found some support at the noted opening gap down circa 134.70, did print a 134.68 low, but has bounced for now.
  • Although the BTP still outperforms somewhat, the spread is off its tightest level, now only 0.9bp tighter vs the German 10yr.