19/08/2013

Good morning all,

Looks like weak longs looking for a retrace of the weeks down move where forced to cover in bunds before the weekend. With no major data til wednesdays FOMC minutes, technicals could hold the key. There is a Spanish 10 year auction to consider.

Overnight Treasuries remain heavy so I hold no immediate hope for a bounce this a.m.

€ curves...Still buy dips. Got completely flat friday so may find it hard to get the chance to get back in steepeners. Only stop catching flatteners on the radar at mo...but keeping positions small and tight that way round.

Eu teds continue upwards trend as algos manipulate bid and offer whilst laggiung the speed of bond down move.

 

Good Luck