December 12, 2024 09:32 GMT
CROSS ASSET: US Tnotes is clearing the December low
CROSS ASSET
- Tnotes is clearing the December low, again while it is not fast it has been a one way price action since Yesterday afternoon and into the European session today.
- The move in the US has limited the bounce in Bund, which is slowly catching up with the Italian BTP, with the latter weighted ahead of the Italy Heavy supply.
- Next support in TYH5 is seen towards 110.12+ (Yield level).
- Technically for Bund, 135.51 20-day EMA is the next area to watch.
- In Terms of Yield, next target would be at 2.208% in the german 10yr, today would equate to 135.04.
- USDJPY stays underpinned/bid.
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