German fixed income trades unchanged to a.....>

BUNDS: German fixed income trades unchanged to a touch higher heading into

European hours; Schatz unch, Bobls +2.0 ticks Bunds +7 ticks, drawing some light

support from a cloudier global trade backdrop.

- FT reports have noted that "German monetary hawks are making a concerted push

for Jens Weidmann to succeed Mario Draghi as president of the European Central

Bank, amid fears that Germany could miss out on all the top EU jobs up for grabs

this year." BBG sources earlier suggested that German C'llr Merkel was lobbied

to become the President of the European council in Early May, which she

rejected.

- Tuesday saw the space finish lower, with some light bear steepening evident.

Noteworthy flow from Tuesday included cheap downside in Schatz, via the DUN9

(Jul) 111.90/111.80/111.70 put fly, bought for 1 in 19.5k all day. Yesterday

also saw a 10.0K buyer of the RXN9 (Jul) 167.00/166.00 put spread for 11.

- Focus today moves to an address from ECB President Draghi, while on the

issuance front Germany will tap its 0.25% Feb-29 Bund. ECB's Visco & Praet will

also make addresses.