German fixed income futures followed global...>

BUNDS: German fixed income futures followed global FI higher in the wake of the

FX flash crash & Apple cutting its Q1 guidance, as the co. levied most of the

blame on EM performance, notably in China. Schatz +0.020, Bobls +0.110, Bunds

+0.31, with the contracts off of best levels.

- Comes after the bund curve flattened progressively throughout Wednesday's

session on the back of long-end outperformance, and a general bid in core EGBs

against a risk-off backdrop. Wednesday's bid was aided by news that the Italian

bank, Banca Carige, saw the resignation of the majority of the company's board

following a failed plan to raise more capital with the ECB, leading to the

appointment of temporary administrators. The final EZ Dec m'fing PMI print also

confirmed the slowdown in the sector.

- Final EZ services PMI data will hit Friday, as well as flash EZ CPI data.