Bund 240 min simples. After testing upside and failing last week the bund managed to break to the downside. Giving us a technical short bias. Unfortunately the U.S. gov failure over this weekend means we are likely to see some Flight To Quality budding in the morning.
Bund 30 min Fib
Bund 30 min 20MA & 60MA
U.S. 2 year. Under pressure early part of last week as all major investment companies fled short dated U.S. debt fearing no resolution come the 17th debt ceiling. Thursdays news of agreed discussion gave hope. We saw a some pull back in 2s from this. However this weekends news may put the pressure on again.
Bobl ted....Something I'll be watching with interest on the open tomorrow. LTRO repayments not as high as expected gave the Euribor the impetus to outperform. I would imagine the Bobl will take that back from the open. Don't be surprised if we get comments about new or extending the current LTRO's soon this week if the Washington situation is not resolved.
See you all in the morning
Good night
Lee
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