Free Trial

US/Germany sees further divergence

BUNDS
  • Bund continues to fade some of last Friday's spike, following Austria going into lockdown, and Germany not ruling out further measure, after numbers jumped above 45k.
  • The contract still need to dip towards 171.16, to fully retrace the rally.
  • US/Germany sees further divergence, pushing the TYZ1/Bund spreads widest since 12th April.
  • Fed Bostic favour faster taper, nothing too surprising for a known Hawk, and although he is a 2021 voter, he will be a non voter for 2022 and 2023.
  • Focus today is on Services PMIs.
  • SUPPLIES: Netherland 2029 EU3bn (Equates 14.6k Bund), 7yr and 2yr FRN.
  • SPEAKERS; BoE Haskel, Bailey, Cunliffe, ECB Makhlouf, Guindos

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.