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BUNDS: Trump Tariiffs come into effect

BUNDS
BundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • A busy and wide traded session for Bund, after Trump's Tariffs on Canada, Mexico, China came into effect, but most was already priced in by the Markets, so the German contract trades well within Yesterday's wide range.
  • Canada has announced a 25% tariff plan on some US Exported products, {ch} China delivered a more pinpoint set of Tariffs, targeting US Farmers with a 10%-15% on Agricultural products, although the lower response could suggest China's willingness to negotiate.
  • The Volume in Bund is elevated for this Time of the day, but worth noting that 90% of that Volume is spread related, as Desks pick up the pace rolling March Positions into June.
  • Support in Bund (March) is seen at 132.10 followed by 131.79. Resistance is at the 133.29 gap.
  • There are no Tier 1 Data for the session, these pick up again Tomorrow.
  • SUPPLY: UK £2.25bn 2054 (Equates to 33.6k Gilt) will weigh, German €4.5bn Bobl (equates to 42.8k Bobl) will weigh. and Netherland new 10-year 2.50% Jul-35 DSL.
  • SYNDICATION: Belgium 15yr.
  • SPEAKERS: Fed Williams.
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  • A busy and wide traded session for Bund, after Trump's Tariffs on Canada, Mexico, China came into effect, but most was already priced in by the Markets, so the German contract trades well within Yesterday's wide range.
  • Canada has announced a 25% tariff plan on some US Exported products, {ch} China delivered a more pinpoint set of Tariffs, targeting US Farmers with a 10%-15% on Agricultural products, although the lower response could suggest China's willingness to negotiate.
  • The Volume in Bund is elevated for this Time of the day, but worth noting that 90% of that Volume is spread related, as Desks pick up the pace rolling March Positions into June.
  • Support in Bund (March) is seen at 132.10 followed by 131.79. Resistance is at the 133.29 gap.
  • There are no Tier 1 Data for the session, these pick up again Tomorrow.
  • SUPPLY: UK £2.25bn 2054 (Equates to 33.6k Gilt) will weigh, German €4.5bn Bobl (equates to 42.8k Bobl) will weigh. and Netherland new 10-year 2.50% Jul-35 DSL.
  • SYNDICATION: Belgium 15yr.
  • SPEAKERS: Fed Williams.