Snapshot: The DAX is currently trading at 23987 (-81, -0.34%), pressured by a rise in German yields. The 2-year Schatz is up 4bp to 2.690%, while the 10-year Bund is up 2bp to 3.078%. Focus shifts to the upcoming German Prelim CPI m/m release at 08:29 CET.
- Watch for a break below 23920, today’s low, to confirm further downside momentum.
- Rising US yields and a firmer DXY pose a headwind to DAX performance during the NY session.
Bias into NY: Slightly bearish on the DAX, anticipating continued pressure from rising German yields and a potentially stronger dollar; look for a test of 23900. The Nikkei’s overnight -1.01% performance to 59917 also weighs on sentiment.