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Steeper curve

BUNDS

Bund June is now front Month, but no abating in the curve with 5/30s having recovered most of the 25th-26th Feb 12.14% fall (flattening).

  • 5/30s is eyeing a test at the Feb peak, but initial target remains at the January 2020 high at 84.808, and a clear break through the latter would open to 11/09/2019 high at 87.531.
  • Very little left in terms of data for Europe, with Italian retail sales.
  • US NFP is the highlight.
  • On the speaker front, BoE Haskel and US Bostic are scheduled.
  • Last day before US blackout
  • Rating: Moody and DBRS on Spain (after market)


Chart source: Bloomberg

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