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Focus on PMIs this morning

BUNDS
Contract remains in a tight range (175.52-175.71) on the cash open, despite the early extension higher in Equities following the Astra Covid headline.
  • Focus this morning on European National Services and Composite PMI.
  • This week's focus remains squarely on Brexit Covid lockdown easing and Vaccines delivery
  • SUPPLIES: A lighter calendar going into Month End.
  • Monday: Belgium tap of the 0.80% Jun-25 OLO and the 1.25% Apr-33 OLOm for a combined E1.3-1.5bn.
  • Tuesday: Netherlands will offer EUR1.5-2.5bn of the 0% Jan-27 DSL
  • Wednesday: Italy auction of CTZ/BTPEi

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