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

BUNDS: German fixed income futures stuck to tight ranges overnight, operating on
low volume, and sit a touch above Monday's settlement levels as we head towards
European trade.
- Schatz +0.010, Bobls +0.040, Bunds +0.07.
- The 5s30s Bund spread steepened away from its recent cycle flats on Monday.
- EU Commission President Juncker pledged that Brussels will respond to any U.S.
auto tariffs, although he indicated that he doesn't foresee the implementation
of any tariffs, as U.S. President Trump has previously given his word on the
- Monday also saw comments from ECB's Praet, who said that the Bank has seen a
marked increase in risks to economy & could adapt its rate guidance if the EZ
economy slows sharply. On TLTRO's Praet noted that "in March we will make an
assessment of the current and expected state of bank transmission."
- Focus now moves to the German ZEW survey due later today, with ECB's Praet, de
Guindos & Costa all due to speak.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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