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Through yield resistance

BUNDS
  • Bund is through the initial yield resistance that was 0.146%, now at 0.160%.
  • Gilt has fully reversed that early peculiar opening bid, but still outperforms against Germany.
  • Gilt/Bund spread is 1.7bp tighter, after trading at circa 2.2bps on the Gilt open.
  • Further push lower for Bund, will target next resistance in Yield at 0.165%
  • Today, reference 164.30, would equate to 164.14.
  • Above the latter, opens to 0.224% = 163.30.

Chart source: MNI/Bloomberg

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