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GERMAN T-BILL AUCTION RESULTS: 6-Month Bubill
Jan-06 10:40
| Type | 6-month bubill |
| Maturity | Jul 16, 2025 |
| Allotted | E1.152bln |
| Previous | E1.55bln |
| Total sold | E2bln |
| Target | E2bln |
| Avg yield | 2.475% |
| Previous | 2.667% |
| Bid-to-cover | 2.17x |
| Previous | 1.72x |
| Bid-to-offer | 1.25x |
| Previous | 1.34x |
| Previous date | Nov 18, 2024 |
DUTCH T-BILL AUCTION RESULTS: 3/6-Month DTCs
Jan-06 10:39
| Type | 3-month DTC | 6-month DTC |
| Maturity | Mar 28, 2025 | Jun 27, 2025 |
| Amount | E1.61bln | E1.14bln |
| Target | E1.0-2.0bln | E1.0-2.0bln |
| Previous | E1.05bln | E1bln |
| Avg yield | 2.733% | 2.55% |
| Previous | 2.730% | 2.571% |
| Bid-to-cover | 1.47x | 1.27x |
| Previous | 2.67x | 2.12x |
| Previous date | Dec 09, 2024 | Dec 09, 2024 |
Source: Bloomberg
BOBL TECHS: (H5) Southbound
Jan-06 10:38
- RES 4: 118.640 Low Dec 6
- RES 3: 118.520 High Dec 13
- RES 2: 118.173 20-day EMA
- RES 1: 117.490/870 Low Dec 30 / High Jan 3
- PRICE: 117.190 @ 10:21 GMT Jan 6
- SUP 1: 117.150 Intraday low
- SUP 2: 117.000 Round number support
- SUP 3: 116.700 Low Jul 26 2024 (cont)
- SUP 4: 116.471 76.4% of the Jun 10 - Oct 1 2024 price swing
A bear cycle in Bobl futures remains in play and last week’s sell-off plus today’s extension, reinforces the bearish set-up. Price has recently traded through 117.723, the 76.4% retracement of the Nov 6 - Dec 2 bull cycle. Attention is on key support at 117.180, the Nov 6 low. It has been pierced, a clear break would strengthen the current downtrend. Initial resistance is at 117.870, Jan 3 high. Key short-term resistance is 118.173, the 20-day EMA.
