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German Bund moved sideways in a 30-tick range – KBC

FXStreet (Barcelona) - The KBC Research Team view yesterday’s trading as uneventful for the bund as it moved sideways in a 3-tick range.

Key Quotes

“Yesterday’s trading was uneventful. The German Bund moved sideways in a 30-tick range. The intraday low was reached in the wake of a stronger German ZEW. The expectations component was significantly better than expected and increased for the first time this year.”

“During US dealings, PPI data and NAHB building index surprised on the upside of expectations but once again failed to trigger higher US rates.”

“At the end of dealings, the US yield curve shifted 0.4 bps (2-yr) to 2.5 bps (10-yr) lower. Changes on the German yield curve ranged between -0.2 bps (30-yr) and +1 bps (2-yr).”

“On intra-EMU bond markets, Greece underperformed on rumours of a stand-off with the Troika ahead of the final aid payment and fears of snap elections.”

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