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Attention turning to CBs later this week

BONDS

Core fixed income have been grinding lower off of yesterday's highs through most of the morning session with little in the way of headline drivers. Overall, however, moves have been rather limited.

  • Attention is turning to the FOMC decision tomorrow and BOE/ECB meetings Thursday.
  • Today the UK parliament's vote on Covid Plan B restrictions will be watched, as will the US Senate's vote on the debt ceiling extension.
  • On the data front we have already seen some strong UK labour market data while the data highlight later will be US PPI.
  • TY1 futures are down -0-2 today at 130-25 with 10y UST yields up 1.3bp at 1.430% and 2y yields up 1.4bp at 0.649%.
  • Bund futures are down -0.19 today at 174.49 with 10y Bund yields up 1.1bp at -0.373% and Schatz yields up 1.1bp at -0.703%.
  • Gilt futures are down -0.12 today at 127.42 with 10y yields up 1.5bp at 0.710% and 2y yields up 1.8bp at 0.406%.

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