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AUDUSD TECHS

New Weekly Lows

EURJPY TECHS

Needle Still Points North

GILT TECHS

(M1) Key Support Zone Exposed

SCHATZ TECHS

(M1) Clears Congestion Support

BTP TECHS

(M1) Downtrend Extends Further

BOND SUMMARY

Very little movement in Bunds and Gilts, befitting a US market holiday and a fairly thin calendar. Italian political risk is the main focus early in the week.

  • BTP spreads a little wider ahead of confidence votes in PM Conte's gov't (one today in the lower house, one Tuesday in the Senate). He addresses the lower house at 1100GMT.
  • In issuance, Slovakia sells ~E530mn of bonds.
  • No data of note (Italy final CPI came in line w flash)BoE's Bailey speaks on climate change at 1330GMT, while Eurogroup meets virtually.

Latest levels:

  • Mar Bund futures (RX) down 1 ticks at 177.65 (L: 177.63 / H: 177.81)
  • Mar Gilt futures (G) up 2 ticks at 134.45 (L: 134.43 / H: 134.56)
  • Mar BTP futures (IK) down 18 ticks at 151.16 (L: 150.88 / H: 151.39)
  • Italy / German 10-Yr spread 1.1bps wider at 116.8bps
MNI London Bureau | +44 203-865-3807 | tim.cooper@marketnews.com