FINANCIALS: Final Terms: Deutsche Bank EU1b 6NC5 SNP - bbg

French Block trade, suggest seller:

• OATH5 ~1.95k at 122.51.

BTP and OAT are slowly starting to underperform Germany (Bund), and all futures contract Hovers near their respective lows.

• US Data/Speaker Calendar (prior, estimate)
• 7-Jan 0800 Richmond Fed Barkin economic outlook, (text, Q&A)
• 7-Jan 0830 Trade Balance (-$73.8B, -$78.3B)
• 7-Jan 1000 JOLTS Job Openings (7.744M, 7.740M)
• 7-Jan 1000 JOLTS Job Openings Rate (4.6%, 4.6%)
• 7-Jan 1000 JOLTS Quits Level (3.326M, --), Rate (2.1%, --)
• 7-Jan 1000 JOLTS Layoffs Level (1.633M, --), Rate (1.0%, --)
• 7-Jan 1000 ISM Services Index (52.1, 53.5)
• 7-Jan 1000 ISM Services Prices Paid (58.2, 57.5)
• 7-Jan 1000 ISM Services Employment (51.5, 51.4)
• 7-Jan 1000 ISM Services New Orders (53.7, 54.2)
• 7-Jan 1130 US Tsy $85B 42D CMB auction
• 7-Jan 1300 US Tsy $39B 10Y Note re-open (91282CLW9)

• RES 4: 111-20+ High 6 and the bull trigger 
• RES 3: 110-25   High Dec 12   
• RES 2: 110-06+ 50-day EMA  
• RES 1: 109-08   20-day EMA
• PRICE:‌‌ 108-14 @ 11:05 GMT Jan 07
• SUP 1: 108-06+  Low Dec 26
• SUP 2: 108-00   1.500 proj of the Oct 1 - 14 - 16 price swing   
• SUP 3: 107-19+ 1.618 proj of the Oct 1 - 14 - 16 price swing
• SUP 4: 107-04   1.764 proj of the Oct 1 - 14 - 16 price swing

The trend condition in Treasury futures is unchanged and remains bearish. Recent weakness reinforces the current bear cycle - the contract has traded through key short-term support and the bear trigger at 109-02+, the Nov 15 low. The breach confirms a resumption of the downtrend and opens 108.00, a Fibonacci projection. Short-term gains are considered corrective below 109-08, the 20-day EMA.