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Record Volume overnight

BUNDS
  • A massive overnight session for Bund and Treasuries, with what has to be a record traded Volumes for TYM4, at least for the June contract with volumes standing at 700k going into the European session.
  • It's nearly a 1 point range for TYM4, while Bund has already traded in a 106 ticks range, all on escalation War risks, following report of a response from Israel on Iran.
  • Reports of limited damages from the attack, has brought cross assets, Govies, Equities, FX closer to their respective mid ranges.
  • With no Data left for the Session, the street will have to navigate potential risks over the weekend.
  • Technically for Bund, support remains at the 2024 high in Yield term, equated to 130.96 Yesterday.
  • Resistance was noted at 132.11/132.16, and although this was breached overnight, this area remains, did print a 132.24 high.
  • SPEAKERS: BoE Ramsden, Mann, Fed Goolsbee (non voter), ECB Nagel.

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