So how about a 400 tick rally in the bunds so far this week! We were looking at top side resistance at 136 area and we have smashed through and back above near the all time highs of this contract trading in the 138s. Not for the faint hearted these moves.
I think 138s-139s will be a very big sticking point as yields will be super low, but if the situation escalates we could see 140s soon.
Italian yields are rising causing alot of concern and pummelling bank stocks. Coupled with the Greek prime minister saying it will have a referendum on the bailout, which is ridiculous. Its laughable really.
Euro traded low 1.36s after being at 1.42s last week. How quickly things change!
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