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Testing session low on the Cash open

BUNDS
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  • There's little change for Bund with the Contract trading near Yesterday's lower range, after it faded back to pre Powell level Yesterday (WTI jumped $2 on the Libya news, Authorities were stopping production and export), US Tnotes (TYU4) is still just short of that level was trading around 113.13.
  • Technically, it looks like Bund is forming a base at the 133.94 area, but better support is still seen at 133.77.
  • Resistance moves down to 134.70, followed by 135.18.
  • German Gfk was a miss and final GDP was inline, not market movers.
  • There's no Tier 1 data left for the session, focus remains on the EU CPIs, US IJC and core PCE this week.
  • SUPPLY: Italy €2.5bn 2026 (Equates to 23.2k short 2yr BTP) should weigh, German €4bn Bobl (equates to 37.8k Bobl) should weigh into the bidding deadline. US sells $69bn of 2yr Notes.
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  • There's little change for Bund with the Contract trading near Yesterday's lower range, after it faded back to pre Powell level Yesterday (WTI jumped $2 on the Libya news, Authorities were stopping production and export), US Tnotes (TYU4) is still just short of that level was trading around 113.13.
  • Technically, it looks like Bund is forming a base at the 133.94 area, but better support is still seen at 133.77.
  • Resistance moves down to 134.70, followed by 135.18.
  • German Gfk was a miss and final GDP was inline, not market movers.
  • There's no Tier 1 data left for the session, focus remains on the EU CPIs, US IJC and core PCE this week.
  • SUPPLY: Italy €2.5bn 2026 (Equates to 23.2k short 2yr BTP) should weigh, German €4bn Bobl (equates to 37.8k Bobl) should weigh into the bidding deadline. US sells $69bn of 2yr Notes.