July 05, 2024 08:29 GMT
Tnotes/Bund spread targets the June low
BONDS
- With Tnotes back in the green on the day and at session high, just ahead of the initial resistance of 110.04, the 10yr US/German spread is starting to lean tighter, by just 0.5bp so far, but the spread is nonetheless now looking at testing the June low of ~173.83bps.
- Investors will be keeping a close eye on further tightening with the 2024 low situated ~170.59bps, which is also the tightest level since September 2023.
Chart source: MNI/Bloomberg.
86 words