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Swelling Issuance Pipeline Limiting Rallies, ZEW Up Next

BONDS

Swelling corporate issuance is helping keep rallies in check for now, with the EU and Italian syndications also underway.

  • German ZEW data prevents the next data point of note (in ~90 minutes), with several desks seemingly wary of upside surprises in that release.
  • Such an outcome could add further pressure to core global FI markets, with initial technical support levels in relatively close proximity across TY, Bund & gilt futures.
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Swelling corporate issuance is helping keep rallies in check for now, with the EU and Italian syndications also underway.

  • German ZEW data prevents the next data point of note (in ~90 minutes), with several desks seemingly wary of upside surprises in that release.
  • Such an outcome could add further pressure to core global FI markets, with initial technical support levels in relatively close proximity across TY, Bund & gilt futures.