Displayed volume in the book is less BUT traded volume is still the same. What yo have against Eurex ?!
How long have you been looking at this? 200+ tick range on 1.7m lots is crap compared to what they used to do,at the beginning of last year that would have 2.5m - 3m all day long on probably 100 tick range. I have to totally disagree about the vol being the same,I think even Eurex are admitting it's significantly down yoy. About Eurex - they are far too accomodative of pricks with over leveraged funds and a shit model,looks like it's done them a lot of favors though.
Volumes are down. Don't look at the last couple of days, that's a rarity. The Bund used to be the shit, now it's just shit.
Why is the Bund now "shit"? It moves and therefore is a market.Equal oppurtunity to make/loose money.
Sorry, I'll clarify. It used to be my "main" indicator for the US treasury market, especially so during the morning hours. Now the US treasuries (and other markets) could give a crap what the bund is doing. It also was the top traded futures contract in the world. Now I don't know where it ranks but it's not even close to the top. It has lost luster for one reason or another. So it was the top "dog" at one point, now it's just a dog.
BondTrader50: Agree yes.Depends on how u trade? I take it you are a scalper? correct? Tick for tick- yes, no market either conversely/inversely follows each other- However the general chart on a daily pattern is often similar.Eg European fixed income/US fixed income once the US session has opened.
2.5m to 3m a day, on a 100 tick range, beginning of last year? What market are you talking about? Go back and tell me what exact days we had volumes between 2.5 and 3m on a 100 tick range. Stop talking $hit dude. And what is wrong with 200 tick day range on 1.7mil contracts? Damn, how many opportunities we had on that day!! I wish we had more of those days. Volumes are a bit lower, market is thinner, but so what, we've had so good many opportunities. I guess there will always be people complaining.
All valid comments I agree. But it ain't what it used to be, last May I'd clip 400 happily intraday, you could go unnoticed, you won't catch me doing anywhere near that in this whippy book. I complained about the 5000*5000 flipper book and 35 tic range years ago and I'll complain about this book too. I like complaining. It's more the speed of change than the change itself, it means a steep adaption learning curve but it keeps you on your toes. It's not just bund, what happened to noone batting an eylid at 6000 tnote clips into 10,000 it was only a few months back, everyone's chickened out of risk since the crunch. These times they are a changing, still I was slightly concerned we'd be at 25,000 thick book by now the rate it was thickening up at last year, nice to see a flush out in a way but feels like way fewer participants in there, you get noticed by the machines now. I think there's been a lot of migration of bund locals to eurostoxx, at least there, there's some size left in the book.