EGB/GILTS SUMMARY

A fairly steady session for EGBs, volumes are elevated, but driven by rolling position into September.

• Bund trades in the green and in a 23 ticks range (171.41-171.64), as the street awaits for the US NFP release.
• German curve trades flat, while peripheral move a touch wider against Germany. Italy leading at 0.7bp wider.
• Gilts trade in a 17 ticks range (126.74-126.91), with desk likely positioning ahead of the US release.
• The contract trades in line with Bund, with the spread 0.2bp tighter.
• Looking ahead, all eyes on US NFP, Bloomberg economist estimates have widened to a range of 335k to 1mln.
• US Factory orders are also scheduled as well as Durable goods, but final reading for the latter.
• SPEAKERS ECB Villeroy and Fed Powell on BIS climate panel. And G7 meet in London.
• After market, rating from Fitch on Italy, DBRS on Germany and Moodys on Turkey