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EGBs - Trade circa flat during our mornig European session

BONDS
  • A fairly subdued overnight session for Bund and similar price action during our early morning European session.
  • Volumes have been on the low side, as the UK are out on a Bank holiday Monday.
  • And most desk are on the sideline ahead of ISM services and US NFP on Friday.
  • Contracts remains underpinned, following the Dovish Powell Friday, on light volumes.
  • Peripheral trade close to flat against the German 10yr, but Italy sits 1.1bp wider
  • Looking at this afternoon, German regional and National CPI.
  • Also, rolling position into December should start to pick up this week, with expiry next week
  • Bund futures are up 0.09 today at 176.08 with 10y Bund yields up 0.1bp at -0.424% and Schatz yields up 0.3bp at -0.740%
  • BTP futures are unch today at 154.10 with 10y yields up 1.3bp at 0.644% and 2y yields up 0.4bp at -0.497%.
  • OAT futures are up 0.07 today at 161.70 with 10y yields up 0.2bp at -0.68% and 2y yields up 0.1bp at -0.718%.

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