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Curves move back bear steeper this afternoon

EGB SUMMARY
  • After some curve reversal going into lunch time in EGBs, reversing some of the steepening bias.
  • The afternoon saw, curve reverse once again to lean bear steeper, at the time of typing, albeit within the morning session's ranges..
  • Peripheral spreads sees Greece and Italy trading wider against the German 10yr, by 2.1bps and 1.1bp respectively.
  • Looking ahead, Fed Mester, Daly, ECB Schnable and Fed Powell testifying to congress are still scheduled for the session.
  • Bund futures are down -0.32 today at 171.84 with 10y Bund yields up 1.4bp at -0.159%.
  • Schatz yields up 0.2bp at -0.655%.
  • BTP futures are down -0.36 today at 150.37 with 10y yields up 2.4bp at 0.900% and 2y yields up 0.2bp at -0.323%.
  • OAT futures are down -0.19 today at 158.29 th 10y yields up 1.0bp at 0.175% and 2y yields down -0.6bp at -0.639%.

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