MNI: UK FEB CBI INDUSTRIAL TRENDS TOTAL ORDERS -20
Feb-21 11:00
MNI: UK FEB CBI INDUSTRIAL TRENDS TOTAL ORDERS -20
UK CBI FEB PRICE INTENTIONS 17
BONDS: US Treasuries are leading higher
Feb-21 10:51
Bund continues to recover from the lows, with the supply out of the way.
US Treasuries have somewhat been leading as the longer end part of the curve has caught with 2yr (TUA) and 5yr (FVA) futures.
The Bund did trade as high as 133.40, but resistance moves up to 133.56.
As already mentioned for the US Tnotes, some will look at the 110.17+ level, the 15th December high, others will eye 4.20% which is closer to ~110.19.
GILTS: Morgan Stanley Recommend Shorts Roll Early
Feb-21 10:42
Ahead of the quarterly gilt futures roll Morgan Stanley note that “positioning seems skewed towards shorts. We recommend outstanding shorts roll early.”
Beyond positioning they believe that optionality and net basis provide some mildly bearish inputs, suggesting that “the current probability of a switch in CTD is not negligible in this roll cycle.”