Bunds: braced for Ifo, and prospect of upside outcomes

The 10 year German debt future is pivoting the 163.00 level in early Eurex trade, in an extremely narrow band just below Thursday’s close (162.96-163.03 vs 163.06), and looking for more direction from the November Ifo survey, assuming no major moves in ancillary markets in the run up and/or breaking news/events. Aside from ongoing resistance above current levels, Bunds are on the defensive given an upside bias against consensus for the main components in line with recent data and flash PMIs. Volumes have picked up somewhat after yesterday’s holiday impacted low turnover, but remain relatively light going into the weekend, which means choppy price action is likely to continue.

24 Nov 2017 - 07:26- - Source: ransquawk

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