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EGB/GILTS SUMMARY

BOND SUMMARY

EGBs stays better bid, underpinned as the US starts to join the session.

  • Bund has brushed aside the Bobl supply with focus turning to risk event today.
  • EMA is scheduled to have a presser at 15.00 UK time/10.00ET, regarding the Astra vaccine.
  • As such core FTQ have been favoured so far today.
  • Gilt have followed suit, but have lagged somewhat behind, with some Heavy UK supplies, equating to some 53k Gilts.
  • ALL EYES here are also on Astra concerns, as the market awaits on the UK regulators and what they might decide on Astra and younger people.
  • No set time or date yet regarding a UK announcement.
  • Looking ahead, focus is on the risk events noted above, and out of the US, sees a few Fed speakers on the Economy, including Fed Evans, Barkin, Daly, while Fed Kaplan is in a Panel hosted by UBS.
  • FOMC minutes is also due, but most desk don't expect to much, but will still be watched

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