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Supply and Speakers in focus

BUNDS
  • Another subdued overnight session for the German 10yr Bund, 21 ticks range and just over 6k lots traded going into the cash open.
  • The contract is off yesterday's low after Bond drifted lower yesterday, helped by the bounce in US regional Banks, but US Corp Issuances also play its part and weighted on futures in thin traded Volumes.
  • Support in Bund is still around the 135.00 figure, followed by 134.75 and 134.35.
  • Resistance comes at 136.21 Yesterday's high.
  • There's no notable data and the street remains on the sidelines awaiting on the US CPI release Tomorrow, the main event for the week.
  • SUPPLY: Austria 10s, 20s (equates combined to 35.5k Bund) may weigh given the low liquidity.
  • German EU5bn Bobl (equates to 42.2k Bobl) should weigh into the bidding deadline. US sells $40bn 3yr Notes.
  • SYNDICATION: EU 3yr and 30yr.
  • SPEAKERS: ECB Rehn, Herodotou, Centeno, Lane, Vasle, Vujcic, Villeroy, Schnabel, Fed Jeffersson.

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