Bunds Edge Higher as Credit Spreads Resume Yday’s Late Widening

Bunds Edge Higher as Credit Spreads Resume Yday’s Late Widening

(Bloomberg) -- Bund futures extend gains, rises as much as 44 ticks to 163.17 as credit spreads continue to widen, stocks weaken steadily since the cash open.

iTraxx xover 5Y rises 11bps, Stoxx 600 falls 1.2%

Bund futures resistance moves to 163.34/40 (pivot R1, March 10 high), before 164.00 (Feb. 29 high)

NOTE: Credit spreads widened sharply into European closes yday, also supporting bunds