Disappointing June Retail Sales report put a halt on a lower trending bonds resulting in a jump back to mid range.
Nothing of any note overnight, so I don't expect any fireworks on a Eurex open. All eyes on the ZEW Survey Results and UK/EU/US CPI Today.
The weak US data kept the steep medium term up trend intact on the bunds whilst Ten year looks a little more range bound.
EU Teds, respite from last weeks strong down trend. Although Euribor did start the day off weak. Doesn't take much for the sellers to smash this contract *note to self. Keep long bor positions on a tight leash!
Bor Spreads
Eurex bond curves building a base here nice cheap short term support. I don't see value in more flattening....That could change on a really bad Zew.
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