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BUNDS: Testing Support Amid Thin Volumes

BUNDS
BundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletMarketsFixed Income Bullets

Bunds briefly falling through near-term support in the last 30 minutes at 133.72 (Dec 19 low), with the front contract back to the worst levels seen in a month. Support now at 133.62 (Nov 22 low), then next up 133.22 (76.4% retracement of the Nov 6 - Dec 2 bull cycle).

  • No clear driver for the move, which looks more Treasury-led if anything intraday, and in line with the ongoing Bund bear cycle identified by our tech analyst. That said, it comes alongside low volumes (354k RXH5) in a holiday-thinned week.
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Bunds briefly falling through near-term support in the last 30 minutes at 133.72 (Dec 19 low), with the front contract back to the worst levels seen in a month. Support now at 133.62 (Nov 22 low), then next up 133.22 (76.4% retracement of the Nov 6 - Dec 2 bull cycle).

  • No clear driver for the move, which looks more Treasury-led if anything intraday, and in line with the ongoing Bund bear cycle identified by our tech analyst. That said, it comes alongside low volumes (354k RXH5) in a holiday-thinned week.