A choppy but within range trading.......>

EGB SUMMARY: A choppy but within range trading session. 

-Middle East risk continues to be at the forefront, but nothing new on future

action from either side today, so market are ranged bound.

-Main event and colour of note this afternoon, was the HUGE corp issuances that

priced throughout the session.

-This was in fact one of the busiest day since 2017 with the combined deals

topping EU27bn just for today. -

Despite the huge amount of supplies, spillovers were surprisingly on the low

side given the mixed between swapped on non-swapped deals. 

-Not much to report in peripherals, with 10 yr spreads trading close to flat

against the German 10 yr. 

-In Spain, as expected Spanish parliament approves Socialist acting Prime

Minister Pedro Sanchez's bid to form a government. Sanchez has been backed by

167 lawmakers; 165 voted against him. 

- Bund futures are down -0.18 today at 172.06 with BTP futures down -0.29 at

142.95 and OAT futures down -0.12 at 164.28.