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Remains heavy

BUNDS
  • A tight 22 ticks overnight range for Bund, did see a small upside opening gap, but this was closed.
  • The contract is offered on the cash open, and support moves up to 129.16 initially.
  • Resistance moves down to 130.00, followed by 130.43 gap.
  • It's another light day on the data front, with only the EU PPI, and the US trade balance, but unlikely to be real market movers.
  • SUPPLY: Austria 28s, and 33s, but won't have any impact on Bund.
  • There'll be more focus on the US selling $43bn of 3yr notes.
  • SPEAKERS: Fed Kashkari, Goolsbee, Barr, Schmid, Waller, Williams, Logan, ECB Nagel.

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