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After a relatively subdued Asian.......>

BOND SUMMARY: After a relatively subdued Asian session and quiet start to the
European session, core fixed income started to move higher just ahead of 9am GMT
and has been gradually rising ever since.
- While most of Trump's speech yesterday saw little surprise, he did say that
the EU was "in many ways worse than China". Today sees the USTR report on auto
part tariffs, which although likely to delay any decisions until 2020 still does
have the potential to recommend tariffs today.
- There are a number of significant risk events today with US CPI the highlight
on the data calendar. The Powell testimony ahead of the JEC at 11:00ET, the
House public impeachment hearings beginning at 10:00ET and a Trump-Erdogan press
conference at 15:10ET are also on the calendar today, potentially encouraging
market participants to square up some positions.
- Elsewhere UK CPI and RPI were a little softer than expected.
- TY1 futures are up 0-8 today at 128-25 with Bund futures up 0.61 at 170.15 and
Gilt futures up 0.57 at 131.35.

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