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Some notable volumes overnight

BUNDS
  • Bund has slightly retraced lower going into the Cash open, after opening gap up, still deep in green territory, following the US refunding Yesterday, US Data miss, and the Dovish leaning Fed last night.
  • This has translated with above average volumes for an overnight session, Bund traded some 34k pre cash open, and TYZ3 207k lots pre EGB cash open.
  • Some notable Volumes in Rate market and especially in the Front Euribor, but this is mostly explained by some buying in the ERZ3/ERH4 spread bought in 11.3k outright, after the spread printed its lowest level since mid June Yesterday.
  • Today sees, more Mfg PMIs, but will be final reading for France, Germany, and the EU.
  • Main focus in Europe will be on the BoE, widely expected to be unchanged, as well as DMP 1 Year CPI Expectations.
  • Out of the US, Durable goods will be final reading, more focus on Factory Orders on the Margin.
  • SUPPLY: Spain 5, 8, 30s, France 10, 20, 30, 50s.
  • SPEAKERS: BoE Presser, ECB Lane, Schnabel, US Fed Paese.

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