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MNI

Test, Please Ignore

EUROZONE ISSUANCE

EGB Supply for W/C Jul 26

USDCAD TECHS

Pullback Considered Corrective

US TSYS SUMMARY

What a Short, Strange Trip It's Been

GLOBAL POLITICAL RISK

Pfizer, Moderna Jabs Retain High Trust; AZ, Sputnik Lower

AUDUSD TECHS

Trend Indicators Remain Bearish

A fairly low key start for Tuesday's....>

EGB SUMMARY
EGB SUMMARY: A fairly low key start for Tuesday's trading session. The 10-Year
Bund is almost unchanged today at 0.454% and there is almost no change across
the curve, but for a small outperformance of the 30Y. 
- Portuguese debt is outperforming Germany by 4bp today as the market takes time
to settle after the S&P upgrade late on Friday. The 10Y spread is now 194bp and
the tightest since Dec 2015. For reference, the Italian spread is 161.5bp.
- Japanese investors returned after help the aged day but sources tell of no
particularly strong buying. 
- Risk measures such as the yen show no evidence of threats and the yen has
fallen to a fresh 8 week low versus the dollar.
- Technically, the Daily chart bull channel base sits close at 160.97 and the US
10Y yield trades at both the 50 and 100 day moving average today, providing good
support upon small set-backs. 
- The main data release will be ZEW at 0900GMT/1000BST.