A very quiet Monday saw the bonds fail to continue on there upward path. This despite the spike up on Sunday night. As the day wore on and the lack of interest turned to some small covering of longs nothing to get the bond bulls too worried tho.
Largely unchanged over night, so flattish call for bunds this am.
€ Curve. Hanging around non taper FOMC levels at present and wouldn't be surprised to see us break down to new flattening levels over the coming months.
€ teds Schatz teds continue trend higher. Whilst 2015 expiry bor against bobl is range trading a little right now.
This morning will all be about positioning for Non Farm. Could be some decent opportunities for some value trades........Could be really boring.
Good luck
Lee
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