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Push lower post German inflation data

BONDS

Small better selling going through, with the German inflation data keeping the lid on Bund.

  • TYM1 test initial support noted at 131.25 (we did print 131.23 low yesterday) US 5/30s is at session high
  • Bund support is still eyed at 170.05/04 76.4% of Feb 25 - Mar 25 rally / Low Apr 28
  • Gilts eye yesterday's low at 127.62, while the German/Gilt10yr spread widens 1.5bps, and widest since the 14th April

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