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thought i had scratched them, but orders got rejected....got out @ 08s, then it went 12 bid again?? when i put them on, gilt rallied - bund trades 14s, 4 ticks onside. gilt comes off a few ticks & bund follows but more aggressively. algo scalpers the only others playing - not sure why i am even bothering to trade today, 170k traded in 5 hours.
I sold 23s and paid 29s, 16 ticks down for the day. Not gd.
The bund, tnote, gilt charts all look similar for tòday. Dont step in front of correlated FI algos, esp on low vol. I really hope the bund starts doing its own thing again, the yield curves are completely different for starters.
Yeah saw similar here Human Bond Traders Barely Show Up To Work As Machines Take Control | Zero Hedge
Mainly talks about US Treasuries (zn) but who knows what happens with the Bund. Either way a flash crash in US Treasuries would most certainly ripple out into other asset classes, let alone other sovereign bond markets?
late start for me, just waiting at the moment, dont have any significant levels as per chart but am 42 bid at the moment. ecb have been buying today 7 years out on the curve which has ramped the bund to new contract highs. see the vols on the 5min chart attached.
been v tough market to trade imo, looking at other mkts, gilts PA looks awful. Its gd for v selective setups, wider stops. Its actually better to trade using tnote charts, they look good, v correlated I guess thats cos both uk and us economies are shite hence why rates are at all time lows, despite what the media tell you.
Down 8 ticks for day, doing some work now on other mkts. prob will be estoxx.
