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Steady ahead of US FOMC

BUNDS

A tight 20 ticks opening range for Bund and fairly light volumes ahead of the US FOMC tonight.

  • Curve is flat but hovering near the September low.
  • Today sees very little in terms of data, with only EZ Trade balance.
  • ECB speakers sees de Cos, Lane and Holamann scheduled for today.
  • Some focus on Germany selling EU1.5 Bln of 1.25% 2048 Bonds (Equates 10.7k Buxl, or 32k Bund), which should keep that part of the curve heavy into the bidding deadline

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