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All eyes on ECB

BUNDS

Steady cash open for Bund, staying in a tight range (178.25-178.36) as we await on the ECB.

  • German curve is flat, and long end strip trades in the green, with yet again, another Brexit deadline marked for Sunday.
  • On the data front, French IP is the only notable release left.
  • Some focus on supplies, Spanish 10yr and Italy 3s and 7s.
  • ECB will publish allottement for TLTRO III but all eyes on the ECB, and Brexit headlines.
  • Peripherals: Worth keeping an eye on Spain 10yr yield, trading below the all time low, now at 0.015%, and looking too close not to test negative, as Portugal 10yr yield edges lower

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