Bank stock lead core Bond higher

A busy morning session, but all equity driven.

• EU indices collapsed as soon as the cash opened, with selling led by banks, following the "Money Scandal".
• Stoxx 600 losses are led by Travel and Leisure, but the big move is seen in Banks (6% of the index).
• EGB core are bid and have extended gains, with curve bull flatter, as the long end outperforms.
• Peripheral sees Italy really struggling this morning, with the IKZ0 actually trading in red territory, down 17 ticks at the time of typing.
• As such semi core are all wider against the German 10 year, with Italy 4bps wider.
• Gilts are underpinned as FTSE fell at its lowest level since the end of July.
• This is a busy week for the UK, with BoE Bailey, Covid Brexit trade deal and internal bill at the forefront.
• Today, Chief Medical Officer Prof Chris Witty and Chief Scientific Advisor Sir Patrick Vallance will give a televised address to the nation at 11:00BST.
• US Treasuries have followed suits with S&P pushed lower, led by Europe. Nonetheless, range in core US Bond have stayed limited, with TYZ0 up 4.5 ticks on the day.
• Looking ahead for the US, little of note on the data front to start the week off, and only Fed Brainard giving a speech on the Community Reinvestment is scheduled for today