Free Trial

Underpinned on the cash open

BUNDS
  • Bund is underpinned, following the EU car sales poor data, brushing aside the higher German PPI.
  • Move is nonetheless fairly limited, with desk "so far" fading moves towards 153.00 (printed 153.25 low overnight), and the 1% Yield level, situated towards 152.71.
  • Similar price action in the US, with Yield reaching 2.9770% overnight, just ahead of the big psychological 3% level (could become a near term top).
  • This was situated towards 118.15 yesterday, Tnotes printed a 118.19+ low overnight.
  • There's very little left in terms of market moving data, EU IP is the notable one, but unlikely to move the needle.
  • SUPPLY: Early focus will be on German EU1bn 30yr (Equates to 7.7k Buxl), UK £2bn 2039 (equates to 25.5k Gilts) should weigh, US $16bn 20yr.
  • SPEAKERS: ECB Rhen, Nagel, Fed Daly, Evans, Bostic.
  • EARNINGS: Today includes P&G, AbbottLabs, and after market Tesla

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.