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AUD Catches Light Bid Ahead Of Aussie CPI


Semi-Government Bond Purchase Offer Details


ACGB Apr-24 Under Pressure


Futures Off Lows Overnight

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  • Bund traded through next initial target at 170.50, after the BoE shocked the markets yesterdays.
  • Gilts were the main driver of Govies, and higher yields benefited Bank stocks greatly yesterday/
  • Bank stocks (SX7E) have now recovered 5.5% since Tuesday, and were up 2.16% yesterday (The leading stocks in Stoxx600).
  • Banks stocks have now closed the Monday gap and eye last Friday's high.
  • Bund sees downside risk continuation, with next technical support at 170.29 100 proj of the Sep 9 - 17 - 21 price swing, but most will be looking at 170.00 next.
  • We have nothing of real market moving data for today, German IFO the notable one, most of the focus will be on speakers, and Evergrande news, as further concerns limit the Equity recovery, after some Bond holders failed to receive payment.
  • SUPPLIES: Italy EU2.5bn 2024 (equates to 4.5k BTP, or 22.5k BTPS), plus a 2030 Linker, which won't impact BTPs.
  • SPEAKERS: ECB Elderson, Lane, Fed Mester, Powell, Clarida, Bowman, George, Bostic, BoE Tenreyro.
  • RATINGS: Fitch on Belgium, S&P on Germany, DBRS on Finland