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German fixed income futures have stuck to.....>

BUNDS
BUNDS: German fixed income futures have stuck to very tight ranges in early
Asia-Pacific trade, operating on low volume. Schatz unch., Bobls +0.010, Bunds
+0.01.
- Friday saw ECB's Coeure note that the econ "slowdown is stronger and broader
than expected" & that the "inflation path will be shallower," as he flagged the
potential for fresh TLTROs. Elsewhere, ECB's Villeroy spoke over the weekend and
echoed Coeure by noting that the EZ econ slowdown is "significant", which may
force the ECB to change its policy guidance if it proves to be more than
temporary. ECB's Rehn also spoke over the weekend and noted that the Bank "has
all of its instruments available" if the slowdown becomes exacerbated.
- EZ focus this week turns to German ZEW survey due Tuesday, flash EZ PMI data &
ECB Jan meeting minutes due Thursday, as well as EZ CPI & German IFO due Friday.
Elsewhere, there is plenty of ECB rhetoric scheduled for this week. On the
issuance front, Germany will offer 5-Year paper on Wednesday. Focus will also
fall on U.S. Commerce Department report on the auto tariff probe, which has been
sent to the White House, the contents remain undisclosed at present.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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