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Speakers at the forefront

BUNDS
  • Another light overnight session for Govies, with Treasuries not helped with Japan out.
  • Liquidity has totally dissipated in the last six session, and Bund has once again seen decent range, of 44 ticks, with circa 5k lots traded pre cash open.
  • Initial support is still seen at 160.56 Low Mar 16, but main downside target is seen at the next yield resistance of 0.346%.
  • There are no tier 1 data for today and the week is packed with speakers, which will take centre stage.
  • Regardless, Russia remains at the forefront, and the illiquid markets will likely exacerbates moves.
  • Ukraine rejected a Russian demand that its forces lay down their arms and leave Mariupol on Monday.
  • Estoxx Futures (VGM2) looked to have found a short term top at the March high 3847.5, now trading around the 3800 figure.
  • SPEAKERS: ECB Lagarde, Makhlouf, Nagel, Fed Bostic and Powell

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