CROSS ASSET: Bund Block trade, US 10yr Yield tests 4.50%

May-14 13:11

Bund block trade, suggest seller

Worth keeping an eye on the US Tnotes (TYM5), while Yesterday's low is at 109.30, the 4.50% Yield is circa 109.28+, now at 4.496%.

The Yen is unaffected still, but further breakout lower in TYM5 might provide some demand in USDJPY.

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Apr-14 13:11

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Apr-14 13:09

The Dollar is still paring some losses, purely an FX move, Risk Tone is on the balance On, but the ranges in Equities are fairly small, limited.
Even the push lower in US Yield isn't affecting the Dollar, nor the USDJPY, in fact even the USDJPY is gaining some ground.
The street is clearly focussed on Powell and the ECB this Week, and there hasn't been any new news nor headline on that small leg higher in the Dollar.
Some of the lighter flows, Volumes suggest that most are likely on the sidelines at this point.

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