Focus on CB speakers later

The European morning session had been fairly lackluster with most of continental Europe out of the office for the Whit Monday holiday before a short, sharp move stronger for the USD also saw core fixed income hit the lows of the day (although much of the move has since been reversed in FX core fixed income still generally sits a bit lower).

• With little on the data calendar, today's focus will be on central bank speakers. In the UK, MPC members Bailey, Cunliffe, Haldane and Saunders will testify before the Treasury Select Committee at 15:30BST/10:30ET. While across the pond, the Fed's Mester, Bostic and George will all speak.
• Looking ahead in the week, the highlights on the data calendar will be US durable goods and the second print of Q1 GDP Thursday, the German IFO tomorrow, French HICP Friday while the UK gilt calendar for Jul-Sep announced on Friday morning.
• TY1 futures are up 0-1+ today at 132-15+ with 10y UST yields unch at 1.622% and 2y yields up 0.2bp at 0.156%.
• Bund futures are down -0.04 today at 169.10 with 10y Bund yields up 0.4bp at -0.127% and Schatz yields up 0.2bp at -0.659%.
• Gilt futures are up 0.05 today at 127.87 with 10y yields down -0.1bp at 0.828% and 2y yields up 0.3bp at 0.039%.