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A range bound early session for EGB's...>

EGB SUMMARY
EGB SUMMARY: A range bound early session for EGB's
-Bund rallied to 174.54 on the open, led by EUR selling in small at the start of
the session. EURGBP, EURUSD, EURCAD, EURCHF all went better offered.
-EURUSD tested decent target at 1.0906. Which has held in time of typing (traded
1.0905 low).
-US Equities tested high of the day putting pressure into Treasuries, with the
German Bund taking its cue from US treasuries this morning.
-The contract has faded the early rally and now sits 14 ticks down on the day at
174.17, in line for TYZ9, down 10 big ticks on the day.
. Peripheral are once again today flat against the German 10y, with very little
to report.
-Looking ahead, we US data taking centre stage, some ECB and Fed speakers.
- Bund futures are down -0.15 today at 174.17 with BTP futures down -0.11 at
145.61 and OAT futures down -0.22 at 170.20.

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