22/11/2013

Good morning,

Respite from Taper frenzy. U.S 10s looks to be nicely balanced. Strong November jobs report will increase the chances of a Dec Taper. Then the Philly fed outlook comes in much softer than expected.
In Europe Consumer confidence come in lower than expected.

TY

Overnight, nothing to speak of happened so we may see a slow open. 141.04 being the first upside target. 140.53 Wasn't broken yesterday but with IFO and GDP out in Germany this morning I wouldn't rule out an attempt.
Bund

 

€ curve, Looking to fade dips still. The longer term schatz-bobl looks like its turning to follow bobl-bund. Schatz-bund pretty much reached resistance and I look for a pull back to buy into. At present its too high for me to buy but couldn't go short unless its on a large stop spike. Not likely to see unless bunds breaks 140.53.

 

 

LTRO payments could offer up some interest for the Euribor

 

 

 

Good luck

Lee