Free Trial

Unwinds Yesterday's rally

BUNDS
  • Bund continues to slowly unwind the European PMI's rally, the main supporting factor for futures market Yesterday.
  • The contract would need a test back toward the 133.10 area, for a full data reversal.
  • Yesterday's low at 132.97 will be seen as the initial support, but better is seen at 132.60, last week's low.
  • Today sees, no real tier 1 data, just the German IFO, but unlikely to be a major mover, with focus on CBs this week and European inflation on Friday.
  • This afternoon sees US Board Consumer confidence.
  • SUPPLY: Italy EU3.75bn 2025 (Equates to 33.3k 2yr BTP), should weigh, plus 10yr Linker, won't impact BTP, UK £3bn 2038 (equates to 28k Gilt) could weigh, US sells $43bn of 5yr Notes.

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.