EGB/GILT - Pare gains as Equities makes higher highs

EGBs have remained within ranges this afternoon, with the lack of important data and new news flow.

• Similar to yesterday, volumes and volatility has been limited, as investors and market participants await the main focus for this week, with the US CPI.
• Curve are flatter, while Bund trade within yesterday ranges, after attempting to test above yesterday's high at 176.91, printed 176.95 high.
• The contract has since faded to trade back at levels we saw on the cash open, helped by the bid in Equities.
• Peripherals have traded in tandem with Bund, and as such trade mostly flat against the German 10yr.
• Gilt trade inline with EGBs and Bund, Gilt/Bund spread is in turn just 0.5bp wider on the session.
• Looking ahead, Fed Evans is a virtual roundtable with "News Media" via Webex., for Discussion of current economic conditions or monetary policy
• ALL EYES are of course on tomorrow's US CPI
• Gilt futures are up 0.02 today at 129.59 with 10y yields up 0.2bp at 0.585% and 2y yields up 1.7bp at 0.146%.
• Bund futures are up 0.16 today at 176.68 with 10y Bund yields down -0.4bp at -0.465% and Schatz yields down -0.3bp at -0.756%
• BTP futures are up 0.14 today at 155.22 with 10y yields down -0.7bp at 0.544% and 2y yields down -0.8bp at -0.507%.
• OAT futures are up 0.16 today at 162.44 with 10y yields down -0.8bp at -0.135% and 2y yields down -1.2bp at -0.710%.