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Some upside continuation in Futures

BUNDS
  • There's very little change for Bund, with the contract continued push away and unwind from the 2024 high in Yield Terms.
  • The push lower towards the figure in futures and in turn the Yield level on Tuesday suggested added shorts in futures, and latest flow suggest some position squaring, also witnessed in US Treasuries, STIRs, Equities, and the Dollar.
  • Resistance in Bund moves up to 132.11/132.16, followed by 132.52 initially.
  • Main support remains at the 2.512% high in Yield term.
  • There's no notable data out of Europe, and only the US IJC this afternoon.
  • SUPPLY: Spain 3s, 6s, 10s, 40s, France 3s, 6s, 8s, plus linkers, US Sells $23bn 5yr TIPS (shouldn't impact Treasuries).
  • SPEAKERS: It's another packed day for speakers, with ECB Guindos, Centeno, Simkus, Vujcic, Nagel, Germany Linder, BoE Greene, Fed Bowman, Williams, Bostic, Collins.

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