Snapshot: The DAX is currently trading at 25164, down 31 points, weighed by slightly disappointing HICP prints, which at 3.2% and 2.4% respectively were roughly in line or slightly above expectations. Traders will be watching for reactions to the US data later this morning.
- The DE 2Y Schatz is holding steady at 2.604%, suggesting limited immediate reaction to the HICP figures.
- Focus shifts to US macro sentiment with a possible downside catalyst if US yields reverse course.
Bias into NY: Neutral-to-slightly bearish. The lack of strong positive momentum in the face of firming Bund yields suggests limited upside in the near term, with the index vulnerable to a further slide towards 25,000 if US data disappoints.