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It has been a pretty quiet morning.....>

BOND SUMMARY
BOND SUMMARY: It has been a pretty quiet morning in core fixed income markets
with 10y UST, gilt and Bund futures moving marginally higher on the day.
- There has been little in the way of new meaningful headlines with the only
notable data release the German ZEW. We do not place a great deal of importance
to this data, but note that the expectations component reversed last month's
fall.
- The biggest talking point in markets this morning has been  the demand for
dollars in the money market, with rates spiking in GC last night.
- Looking ahead we have US industrial production data released this afternoon
while the UK Supreme Court start to debate today whether Prime Minister Boris
Johnson's decision to prorogue parliament was illegal. Note that a decision may
not be reached until Thursday.
- TY1 futures are up 0-3+ today at 129-05+ with Bund futures up 0.01 at 172.99
and Gilt futures up 0.09 at 132.05.

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