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Still unwinding some of Yesterday's price action

BUNDS
  • Bund continues to unwind Yesterday's post US IJC selling, was trading around 134.54.
  • Volumes are still on the low side and moves are gradual, 1 tick at a time.
  • Resistance is still at 134.77 initially.
  • OAT and BTP are leading, helping keep the spreads somewhat tighter against their German counterpart.
  • No spillovers as of yet into Treasuries, TYU4 would need a test to ~113.05+ to reverse US IJC's move, now steady at 112.28+.

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