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BONDS: Rally Continues

BONDS

Extension of the European GDP-driven bid apparent, with little fresh information crossing in the time since.

  • Bund futures still short of first resistance at 131.97, topping out at 131.93 so far.
  • Yields 6-7bp lower across the German curve, 10s outperform.
  • EGB spreads little changed to 1bp wider to Bunds.
  • Gilts test first resistance at 92.68, which protects a Fibonacci retracement at 92.75.
  • Yields 6-7bp lower across the UK curve, 10s also outperform here.
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Extension of the European GDP-driven bid apparent, with little fresh information crossing in the time since.

  • Bund futures still short of first resistance at 131.97, topping out at 131.93 so far.
  • Yields 6-7bp lower across the German curve, 10s outperform.
  • EGB spreads little changed to 1bp wider to Bunds.
  • Gilts test first resistance at 92.68, which protects a Fibonacci retracement at 92.75.
  • Yields 6-7bp lower across the UK curve, 10s also outperform here.