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Fed Powell in focus

BUNDS
  • Bund edge back toward the upper end of the range on the cash open, but still in negative territory.
  • German 5/30s trade flat, lean steeper and near yesterday's high.
  • On the data front, sees Spanish and Swedish CPIs, EU IP and US PPI.
  • Attention turns to Fed Powell semi-annual testimony this afternoon.
  • Other speakers includes ECB Schnabel, BoE Ramsden and Fed Kashkari.
  • SUPPLIES: German EU5bn Bund (equates to 32.8k Bunds), Portugal 10, 15yr.
  • Notable earnings (pre market) Citi, Wells and BoA

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