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Ticked lower on the Cash open

BUNDS
  • Bund fell 10 ticks on the cash open with Equities (VGM3), with contracts taking their early small cues from the Norway CPI beat.
  • Regardless, moves in Govies are still fairly limited and was worth just a 10 ticks drop for the German 10yr, likely fast money, local driven in low volumes, and the contract remains in a 21 ticks range in early trade.
  • Bund support moves back up to 133.45, followed by 133.00 (decent) which held yesterday, albeit printed a 132.97 then.
  • Small immediate resistance comes at the tiny gap up to 133.87, followed by the 134.50 area.
  • It's another very quiet session on the data front, with only the Italian IP this morning and no data out of the US.
  • SPEAKERS: ECB Guindos, de Cos, Centeno, but unlikely to hear anything new.

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