Bund 240 min,
No improvement in Russia situation and the drama in New York building collapse all add up to bonds higher yesterday.
So the momentum is still higher right now. Look for around 68s for first strong support but could also see minor around 78/81 area.
With the up move in bonds yesterday we witnessed the 5s10s follow in the flattening trend although it still hasn't reached its lows of early march whilst 2s5s & 2s10s are making new ones. I see the Schatz has not yet recovered from the big sell off post ECB meet last week.
Euribor on the other hand seems to have shrugged that disappointment off quite impressively. As Teds continue in their up trend...particularly in the greens vs bobl.
I feel that the Bobl teds appear at the peak of the up trend which is quite impressive in the context of the bond up move.
Host of U.S. data to look forward too this afternoon. So we might get action especially if bonds continue to move up for new highs.
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