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EGB/Gilt - Unwound some of the rallies

BONDS
  • Another decent range session for EGBs and Bund, bt today, was some unwind from the massive rallied yesterday.
  • Bund has traded in a 133 ticks range and is down 59 ticks at the time of typing.
  • Peripherals spread are mixed against the German 10yr.Greece is 3.3bps tighter, while Italy is 7.7bps wider.
  • Gilt is trading close to Germany, albeit a 1bp wider on the session Looking ahead, Fed Powell testifies, and focus will be on the Q&A.
  • Other speakers include, ECB Lane, BoE Tenreyro, Cunliffe, and Fed Logan
  • Gilt futures are down -0.48 today at 123.47 with 10y yields up 8.8bp at 1.214% and 2y yields up 19.6bp at 1.000%.
  • Bund futures are down -0.59 today at 169.71 with 10y Bund yields up 6.9bp at -0.7% and Schatz yields up 8.9bp at -0.656%.
  • BTP futures are down -1.31 today at 143.79 with 10y yields up 14.3bp at 1.543% and 2y yields up 16.8bp at -0.110%.
  • OAT futures are down -0.75 today at 160.99 with 10y yields up 9.1bp at 0.453% and 2y yields up 10.6bp at -0.572%.

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