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Testing through Friday's high

BUNDS
HomepageBond Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • Bund held the initial resistance noted Yesterday at 134.19, Friday's high, printed a 134.19 high Yesterday and overnight going into the Cash open, but a 134.23 since the open.
  • Looking at the December contract, it is close to be front Month, as investors increased their pace given the most important week for the US on the Data front, but September will likely still be front at least for today.
  • Bonds Futures saw their biggest moves since the 15th August, ignored all the heavy supply and the timing was also perplexing.
  • Oil fell throughout Yesterday, but Govies were not impacted throughout the early session, instead positioning well ahead of the ISM, was also a potential driver, combined with the lower Oil.
  • Further upside traction in Bund will open to 134.70, followed by the more important 135.18.
  • Small support moves up to 133.66, followed by 133.06.
  • Today sees, Services PMIs but final for France, Germany, EU, UK, EU PPI, US JOLTS, Factory orders, final Durable Goods.
  • SUPPLY: Germany €1bn 2041 (equates to 4.8k Buxl), €500mln 2038 (equates to 4.9k Bund) these won't impact futures, too small.
  • SPEAKERS: ECB Villeroy.
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  • Bund held the initial resistance noted Yesterday at 134.19, Friday's high, printed a 134.19 high Yesterday and overnight going into the Cash open, but a 134.23 since the open.
  • Looking at the December contract, it is close to be front Month, as investors increased their pace given the most important week for the US on the Data front, but September will likely still be front at least for today.
  • Bonds Futures saw their biggest moves since the 15th August, ignored all the heavy supply and the timing was also perplexing.
  • Oil fell throughout Yesterday, but Govies were not impacted throughout the early session, instead positioning well ahead of the ISM, was also a potential driver, combined with the lower Oil.
  • Further upside traction in Bund will open to 134.70, followed by the more important 135.18.
  • Small support moves up to 133.66, followed by 133.06.
  • Today sees, Services PMIs but final for France, Germany, EU, UK, EU PPI, US JOLTS, Factory orders, final Durable Goods.
  • SUPPLY: Germany €1bn 2041 (equates to 4.8k Buxl), €500mln 2038 (equates to 4.9k Bund) these won't impact futures, too small.
  • SPEAKERS: ECB Villeroy.