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Pushing towards 133.00 on the cash open

BUNDS
  • Bund saw the June contract as the most active overnight, but this has not been the case for Bobl or Schatz, the March will still be the one quoted today, but should change by Tomorrow.
  • March Bund, similar to Treasuries trades in a tight range, with Real Money on the sidelines ahead of Fed Powell (wed/thu), the ECB (thu) and NFP/AHE (fri).
  • Resistance in Bund is at 133.40, followed by 133.76.
  • Small support moves up to 132.70, but better is seen at 132.33, followed by 132.00.
  • It is s a busier day on the data front, with PMIs, although will be final reading for France, Germany, EU, UK and US, EU PPI and Italy final GDP are also scheduled.
  • On the other side of the Pond, sees US Factory orders and ISM services, while Durable goods will be final reading.
  • SUPPLY: UK £3.75bn 2027 (Equates to 38.3k Gilt) could weigh, Austria 2030, 2034, Germany €4bn Bobl (equates to 37.4k Bobl) could weigh.
  • SYNDICATION: Germany 30yr and Croatia 10yr Benchmarks.
  • SPEAKERS: Fed Barr (x2).
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