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Underpinned into the Cash open

BUNDS
  • A lighter week on the data front, with only the UK CPI on Wednesday, US IJC Thursday and prelim services PMIs on Friday, but plenty of Central Banks rate decisions and speakers across the Globe.
  • Bund remains underpinned, bid into the cash Govie open after finding some support at the 2.55% Yield mark on Friday, again just at that key 2.557% level, on receiving interest and the prelim US Michigan miss later on Friday.
  • Small resistance moves down to 133.51, followed by 133.71 initially.
  • Support is close to the session low at 133.18, and below the latter opens back to 132.72.
  • There's no data of note to start the week, and the US are off for Juneteenth, but Futures market are still open.
  • SUPPLY: Slovakia 2032, 2035, 2036, and {be} Belgium 2027, 2033, 2054, shouldn't weigh.
  • SPEAKERS: ECB Simkus, Lane, Schnabel, Villeroy, Guindos.

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