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Extending gains ahead of data

BONDS
  • Dust has settled in Govies, and markets have brushed aside the high in Inflation print out of France.
  • The first German regional release (NRW) pre cash open slowed down vs last reading, and some desk are likely positioned for Inflation to ease, which explained the decent downside move on the French data, with bigger traded average volumes in early trade.
  • Top of the hour, German prelim GDP, and Regional Hesse, Bavaria and Brandenburg CPIs are due.
  • Also, Italian GDP, for the Scandis, Norway Employment, and for CEE, Polish CPI.
  • But all the focus on Germany.
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