NFP friday

Good morning all.

Ten year made a new low overnight but with little conviction. Enough tho to suggest there won't be any bounce in the Eurex open until new lows have been explored.
Ten year

Bund

€ curves Steepening as you would expect, I wont be stepping  infront of that freight train just now. #BuyanydipstilNFP

From 15s out the Euribor has been sold even heavier than bonds...Rate rises being priced in sooner than many would have expected. Beginning to question the main Stir market participants and whether they just follow the path of least resistance. Seems like they are getting ahead of central banks everywhere.

 

Is this just a little over extended?

Bobl ted examples

 

Well I've read a lot this week about how today Non Farm number could influence a September Taper. I'm not so sure. Maybe a really bad number may encourage the Fed to put it off a month but I think they have already made their minds up to start. Needless to say there will be action today.

 G20 don't seem to be agreeing on what course of action to take on Syria. So there is reason for caution on this bond down move.

 

Be Lucky

L