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Another packed session ahead


Bunds open better bid this morning, given the fall in US equities overnight and S&P futures near the low of the day in the first 30 minutes of trading since the Govie opening bell.

Lack of confidence that the Fed will do more, from investors and market participants, US stimulus package seemingly at a standstill, EU lockdowns and the rise of Covid cases are weighing on risk.

German curve is flat, while starting to see some Bull Flattening in the US.

Today sees another packed day, with French Manufacturing Confidence, German IFO and ECB Eco bulletin.

We get rate decision from SNB and Norway, and plenty of CB speakers including Fed Powell/Kapln/Bullard/Evans/Barkin/Evans, BoE Bailey and ECB Lane.

Also TLTRO 3, 5th allotment due at 10.30BST

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