06:55 ITC_Markets1 BUND Tech: Bund supply at 10.00GMT may prevent us from rallying hard in the short-term. France's 15Yr OATi for at least Eur5.0bn is also expected to see allocations/pricing over the course of the moning. Technically, it would be fair to say the recent price action in the Bund has proved extremely frustrating, with the market seemingly unable to sustain either breaks of resistance or support. Whilst analysts' remain medium-term bulls, this raises the prospect of further choppy ranging for a while yet. Near-term, while 117.11/21 caps they think yesterdayâs break of uptrend support can be maintained for a slide back to 116.66, then 116.43/23. Failure to hold this latter area would warn of a retest of the 115.62/58 January lows. Above 117.21 would reinforce a choppy range, although only above 117.50/70 would turn the trend bullish again. 06:44 ITC_Markets1 USTs Tokyo: Treasuries opened better bid as it seemed the street wanted to try and get long anticipating Asian/Japanese buying and with NY having closed well bid. However with no buyers stepping in early and then with some good sized NY related selling of 5s, we traded back to unch. Early Nikkei strength and pressure on JGBs also weighed in. However we then moved higher, with some decent Japanese real money buying of across the curve putting some cash to work - both UST and EGB's. This was followed by some Asian bank buying of 5s. The afternoon has seen the Nikkei trade stedily lower and JGBs move steadily higher. UST flows saw some decent 2-way in 10s by Japanese players, with better buying in 7yrs sector. We're off session highs, better by 1.25 to 3/4bp from NY closes, slightly steeper. US equity futs small negative. Swaps quiet. Ldn morning will focus on 6bn 10yr Bund reopening ahead of Retail Sales in NY.