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Targets early support

BUNDS
  • Bund trades at the lower end of yesterday's 69 ticks range, with direction lacking clear traction Yesterday.
  • Overall the contract continues to trade in a 230 ticks range since the 2nd of May.
  • Resistance is still at 135.90, which held yesterday, printed a 135.88 high. while support comes at 134.99.
  • A break through the latter, would break that 230 ticks range bound duration and would open to 134.75, followed by 134.35 (2nd May low).
  • There's no tier 1data out of Europe and on the other side of the Pond, sees the usual IJC and Leading index as the notable releases.
  • ECB also publishes Economic bulletin.
  • SUPPLY: Spain 2s, 4s, 5s, 20s, and US $15bn TIPS reopening.
  • SPEAKERS: ECB Guindos, Muller, BoE Pill, Bailey, Ramsden, Broadbent, Fed Jefferson, Barr, Logan.

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