OUTLOOK: Price Signal Summary - Bunds Remain Above Support
Jun-20 11:17
- In the FI space, {GE} Bund futures are in consolidation mode and continue to trade below the Jun 13 high. For now, the latest move down appears to be a correction. Key short-term support to watch lies at 130.12, the Jun 5 low. A break of this level would highlight a stronger reversal and undermine the bullish theme. This would open 129.30, the May 22 low. Key short-term resistance and the bull trigger, has been defined at 131.95, the Jun 13 high.
- A bullish condition in Gilt futures remains intact and the latest sell-off is - for now - considered corrective. The move higher last week marks an extension of the recent breach of resistance at 91.87, the May 20 high. This signals scope for a test of 93.73, a 1.764 projection of the May 22 - 27 - 29 price swing. Note the uptrend is in overbought territory, a deeper pullback would unwind this position. Initial firm support lies at 92.30, the 20-day EMA.
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EU-BILL AUCTION RESULTS: 3/6/12-Month EU-Bills
May-21 11:08
| Type | 3-month EU-bill | 6-month EU-bill | 12-month EU-bill |
| Maturity | Aug 8, 2025 | Nov 7, 2025 | May 8, 2026 |
| Amount | E749mln | E752mln | E956mln |
| Target | E1.0bln | E1.0bln | E1.0bln |
| Previous | E788mln | E1.181bln | E1.197bln |
| Avg yield | 2.010% | 2.002% | 1.963% |
| Previous | 2.029% | 1.962% | 1.868% |
| Bid-to-cover | 2.37x | 2.87x | 2.44x |
| Previous | 3.3x | 2.19x | 1.73x |
| Previous date | May 07, 2025 | May 07, 2025 | May 07, 2025 |
DUTCH AUCTION PREVIEW: On offer next week
May-21 11:01
DSTA has announced it will be looking to sell E2.0-2.5bln of the 0% Jul-30 DSL (ISIN: NL0014555419) at its auction next Tuesday, May 27.
MNI: US MBA: MARKET COMPOSITE -5.1% SA THRU MAY 16 WK
May-21 11:00
- MNI: US MBA: MARKET COMPOSITE -5.1% SA THRU MAY 16 WK
