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Total collapse in Futures and rates

CROSS ASSET
  • Total collapse in German futures, and similar price action in short term rates (Euribor).
  • Bund saw further downside momentum after breaking the 1.80% yield with longs bailing out.
  • New contract lows for the Euribor strip, albeit off the lows right now.
  • Above average volume are also going through since the cash open.
  • Earlier saw more Hawkish ECB comment, with Guindos adding that more more hikes might come in the next months.

Chart source: MNI/Bloomberg

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