Thanks Giving

Good morning all,

Yesterday we witnessed mildly better US data through all figures,  followed by a very soft 7 year auction. As a result the past week or so rally trend in tens has been broken. Volume appears to be switching so from this afternoon I'm trading the march contract.
I expect if we are to get any action today it will be in the morning so we can all put our feet up and chill during the U.S. hours.
TYA

 The ten tear is 3/4 32s off from Eurex close. So I'm looking for the bund to open around the mid 50s. Markets are likely to be thin so that call might not be very accurate based on where MR path of least resistance algo finds the volume. Bunds fail to break above 141.79 yesterday this despite more ECB members reading from the neg deposit rate ECB manual!(Constancio).
Down move was influenced by US markets. So If we want to try higher today & tomorrow might be a good time to do it.
Bund

€ Curves

I see Schatz/bund as balanced at the mo inline with the bund position. Whilst modest strength in Bobl has giving a bid to Bobl/Bund and a sense of weakness in the Schatz/Bobl.

A host of Eur data out this morning to look forward to including the EUR HICP & Unemployment rates. Carney speaking might add some interest for Gilts, Short sterling & GBP.

 

Good luck.

Lee

 

Good luck