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Ticking lower post cash open

BUNDS
  • A much calmer session for Govies and Bund overnight, and despite some of the pullback higher in futures as desks squared some of the sell offs, after Yield tested new decade highs, Bund is still only 112 ticks short of the 3% Yield.
  • For now, with the street waiting on the US NFP/AHE, next resistance is at 128.45, did print a 128.50 high on Monday.
  • Support moves up to 127.17 initially.
  • There's no tier 1 data out of Europe, Italian Retail Sales in unlikely to move the needle, main Focus is on the US.
  • SPEAKERS: ECB Klaas Knot, Bostjan Vasle, Boris Vujcic and Peter Kazimir, and Fed Waller (on Payments system).

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