June 25, 2024 06:14 GMT
Supply will be the early focus
BUNDS
- A tight and limited traded range overnight for Bund given a quieter start for the Week, with the main event on Friday in terms of data release.
- Bund saw a small gap higher on the overnight open, but trades within ranges.
- The contract has so far held in a 105 ticks range for the past 7 sessions.
- Resistance is unchanged at 132.94, 133.21, and 133.58.
- Small opening gap is down to 132.50, while support is still eyed at 131.97, followed by 131.58.
- Today sees, Spain final GDP, and for North America, Canada CPI will be the highlight of the day.
- SUPPLY: Italy €2.5bn 2026 (equates to 17.2k short 2yr BTP) could weigh on a lower liquidity day, plus 2030, 2039 linkers (won't impact BTPs), UK sells £1.5bn 2033 linker (won't impact Gilt), Germany €4.5bn Schatz (equates to 42.8k Schatz) should weigh into the bidding deadline. US sells $69bn of 2yr Notes.
- SPEAKERS: ECB Stournaras, Nagel, Panetta, Fed Bowman (x2) Cook.
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