Despite a few minor attempts by the squawks to convince us WW3 was happening, the markets behaved like a lethargic teenager and tried to stay under the duvet all day.
Whilst all in the US shook off Labor day hangovers the markets moved sideways. Schatz and Bobl did creep a little higher versus the bund under growing weight of bank analysts suggestions that 10 Bp cut could be on the cards this week for the ECB.
Bund 30min
Despite the slight crawl higher over the past couple of days the momentum on the long term trend flattening is still intact.
Since Fridays Eurex close the US 10 year is off ~6 ticks,
10 year 30min
So with a wet finger in the air bunds could open anywhere between 44 to 50.
€teds
So with Schatz and Bobl showing minor strength yesterday we witnessed some pull back in teds from the mid august uptrend.
Todays data http://www.fxstreet.com/economic-calendar/
Good luck
L
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