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Brexit, Covid and supplies

BUNDS

A tight open for Bund, and curve is flat on the cash open.

  • Small better selling on VGZ0 and ESZ0 pare some of the overnight losses.
  • Brexit and Covid stays at the forefront, after NY announced school lockdown.
  • On this side of the pond, Times reported that EU leaders will press the EU commission to publish a "no deal" plan.
  • An update on Brexit talks is scheduled for tomorrow at 07.00GMT, but worth keeping an eye on any potential headline hitting today.
  • Focus today, sees little in terms of tier 1 data, and instead some attention on Lagarde who will testify at EU parliament.
  • SUPPLIES:
  • Spain 5/7yr and France 3/5/7yr, which should keep that part of the curve capped into the bidding deadlines.

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