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Remains underpinned

BUNDS

Bund stays within ranges, since the cash open.

  • Curve is flat and the contract is underpinned after rallying yesterday afternoon on FTQ, following a growing number of countries halting Astra's use.
  • Today sees German ZEW as the highlight on the data front. France and Italy CPI are final readings.
  • ECB Elderson is scheduled speaker.
  • Some attention on the EU health ministers meeting today, when Astra will dominate. EMA will will also meet again Thursday.
  • SUPPLIES:
  • German 2yr EU 5bn (Equates 45k Schatz or 6.5k Bund),
  • UK 2024 and 2054 (equates combined 49k Gilts) could keep the lid on Gilts into the bidding deadline. and finally US 20yr $24bn

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