Bunds: waiting for the week to start in earnest

Another uninspiring Eurex open for the 10 year German debt future, with the trading range confined to just 163.52-64 vs yesterday’s 163.64 close and turnover barely reaching 11k lots, so far. Bonds are largely in wait-and-see mode with this week’s major risk events and market movers all to come, and kicking off properly from Wednesday with the Fed. For today, some focus on the German ZEW survey and on the supply front there is the last German offering for 2017 in the form of Eur3 bn Schatz, following last week’s rather poor Bund auction. However, the ECB QE window shuts soon and the short end of the Eurozone curve is firmly supported by the dovish outlook/guidance on rates.

12 Dec 2017 - 07:41- - Source: ransquawk

Subscribe Now to RANsquawk

Click here for a 1 week free trial

RANsquawk provides audio news and commentary for over 15,000professional traders and brokers worldwide. Services include: