Fixed income markets are looking.......>

BOND SUMMARY: Fixed income markets are looking forward to today's ECB meeting

and markets have been a little subdued as they await the outcome.

- Most market participants expect an extension to the PEPP emergency asset

purchase programme. However, it is worth noting an MNI sources story last week

where sources suggested an extension to the programme may not be announced at

today's meeting and any decisions over an extension could be put off until later

in the year.

- Bunds, Treasuries and gilts are all a little higher while peripheral spreads

are generally a little wider on the day.

- As well as the ECB meeting, markets will focus on the weekly claims numbers

from the US. Last week saw continuing claims fall for the first time since the

beginning of the Covid crisis and with some potential reporting issues last

week, the pace of this week's fall will also be closely analysed.

- TY1 futures are up 0-3+ today at 138-09+ with Bund futures up 0.06 at 171.03

and Gilt futures up 0.24 at 136.42.