EGB/Gilts - Recover from their lows

EGBs are mostly trading off their lows this afternoon.

• But Bund still struggle, down 17 ticks at the time of typing.
• USD ADP miss has been the main driver this afternoon, for the bounce, but a beat in some components for US ISM manufacturing saw offers reappear.
• Main story for the Gilts, was the BoE appointing Huw Pill as Chief Economist to replace Andy Haldane who left this Summer.
• He will start in his role on the 6th of September.
• He has previously worked at Goldman, the ECB and the BoE.
• One of his old colleague at the BoE (Tony Yates), tweeted:
• "Super clever, knows the academic stuff and the practical stuff. Pretty hawkish on money and monetary policy I think.".
• Looking ahead, Fed's Bostic discusses bringing an inclusive Economy
• Gilt futures are up 0.20 today at 129.49 with 10y yields down -1.6bp at 0.697% and 2y yields down -1.5bp at 0.201%
• Bund futures are down -0.17 today at 175.28 with 10y Bund yields up 1.2bp at -0.373% and Schatz yields down -0.3bp at -0.725%.
• BTP futures are up 0.12 today at 153.41 with 10y yields down -1.3bp at 0.695% and 2y yields down -0.6bp at -0.483%.
• OAT futures are down -0.01 today at 161.17 with 10y yields up 0.7bp at -0.25% and 2y yields down -0.3bp at -0.707%.