A busy morning session for Global Bonds

A busy morning session for Global Bonds, coupled with decent volumes.

• EGBs resumed their rallies, testing new multi months low in yields, as Equities fell,
• Estoxx futures fell 1.78% to trade below the June low, and now at lowest levels since the 21st May.
• Risk off triggered further short covering, pushing curves Bull Flatter.
• Bund 10yr yield is now eyeing a test the 08/04 low at -0.346%, printing a -0.343% low.
• Peripherals are all trading wider against the German 10yr, Italy is the wider spread by 3.4bps, as BTP futures lags behind Bund.
• Similar story for Gilts, with 2s/10s trading at the flattest levels since 15th February.
• US treasuries followed suit from the EU Govie open, and 10yr notes tested initial psychological resistance at 134.00.
• In turn 10yr yield trades at lowest level since the 18th February, printing a 1.2562% low.
• Looking ahead ECB strategy review results at 12.00BST, followed by ECB President Lagarde, V-P De Guindos presser at 13.30BST
• We also get ECB minutes, and in terms of Data, US Jobless