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 +0.140, Bunds

+0.33, with the contracts just 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.