Bunds hit fresh session lows in.........>

EGB SUMMARY: Bunds hit fresh session lows in European afternoon trade at 161.50

and look to close near this level weighed by higher than expected Eurozone

Consumer Confidence. German 10Y Bund yield is 2.3bp higher at 0.427% with curve

bear flattening as short-end underperforms. The 2s30s spread is 1.4bp tighter. 

- The Euro-Area Consumer Confidence data for December came in slightly better

than expected at 0.5 with the Bloomberg Median survey at 0.2. this number is the

highest level since June 2000.

- Earlier, the Mar-18 10Y Bund contract managed to recover all of the early

morning losses before giving back these gains again as as NY opened to print

fresh intra-day lows.

- Markets will be awaiting the results of the Catalan regional elections after

polls are set to close at 8pm local time (7pm GMT). According to the data

provided on the regional government website the election turnout is around

34.69%. The Bund-Bonos spread has marginally tightened by 1.6bp at 105.4bp, but

has actually underperformed the rest of the peripheral market with Bund-BTP

spread 3bp tighter at 150.0bp.