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Tnotes/Bund spread is widening

BONDS
  • The divergence between Tnotes and Bund has pushed the spread wider since the Bund cash open, now sitting 5.4bps wider, with the spread finding support at the 160.00bps figure, printed Yesterday.
  • This was the Tightest print in nearly a year, since 18th September 2023.
  • The 160.00 level is till seen as the first support, but with the spread back at 164.8bps, small resistance moves down to 168.7bps.

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