Both US T-Note and Bund future at key technical levels

Markets: Fixed Income On Tuesday, better than expected manufacturing surveys out of China, Europe and the US failed to boost market optimism, as a buy the rumour sell the fact reaction pushed equities and commodities sharply lower and helped government bonds to rebound off the intra-day lows set immediately after the release of the ISM. The ISM showed the US manufacturing sector expanding for the first time since January 2008. As a result, the rise in US yields was reversed by the end of the