Courtesy of James Hirai, Fixed Income specialist at Livesquawk
"Bunds opened unchanged before hitting session highs, following a break above resistance at 164.36 shortly after the weak European cash equity open. However, directions soon reversed as FI markets prepped for the Italian BTP supply, which came out poorly, although the peripheral long end remained buoyed by Wednesday's strong Spanish 50y syndication. German long end underperformed, despite upcoming US 30y supply, with the Buxl finally finding support around the 40dMA at 167.41. Bunds remained under the cosh in to the close, despite weak US cash equities, led by Apple shares falling below $90 for the first time in 2 years and crude which failed to hold gains above $46."
This is just a very quick brief from our buddies at Livesquawk. Let me know in the comments if further, more detailed posts relating to fixed income would be useful.
