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Steeper curves

BONDS
  • German 5/30s, just session high, after we edged to steepest levels since the start of July.
  • Next upside target is seen at 86.193 (61.8% retrace of the May/August fall.
  • The interesting one on Friday, was the US 5/30s, which bull steepened.
  • This morning, although steeper, 5s/30s is short of the Friday's high at 113.006, now at 111.445.
  • UK 5/30s is moving steeper, but short of Friday's high at 76.33 (also steepest level since 22nd July), now at 74.15.

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