Eurogroup meeting today trumps all other news. Schaeuble appears to be pissing on everybody's chips by suggesting that any idea of a quick fix/short term resolution are fantasy. I expect toing and froing of this kind all day from squawks before we get any announcements late on.
US stir/bond net changes for yesterday
In anticipation of the rumoured quick fix and moderately decent data we saw some steepening.
EU stir/bond net changes.
TY,
Bund. After managing to test the 158.32 and breaking we closed back in the middle of range, could be an interesting day. Mid term a down trend is beginning to appear. I still need to see 157.77 broken before I'm convinced of bearish trend in the long term. Intra day risk that yesterdays low break was a falsey and bad news from the Eurogroup could push us back to new high targets. We are in a corridor of uncertainty and anything between 40 and 80 is chop to be treated with caution and tight stops. At the mercy of tape bomb luck.
EU6
Stoxx
Btp-Bund I use as a leading indicator on teds......mildly optimistic looking.....Although QE will trump Grexit on this relationship(eventually)
Dec16 Bor
Ted
€curve
Good luck....& make sure you're not at the mercy of the tape bomb speculation today.
Lee
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