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

BOND SUMMARY: It has been a quiet morning session thus far in Europe, with gilts

and Bunds only seeing marginal moves. USTs have moved a little higher with TY1

up 0-04 to 127-18 at the time of writing.

- The main event will be Powell's testimony before the House today, with the Q&A

likely to be interesting while US CPI will also be closely watched. A number of

other Fed speakers are due up after the testimony with Williams, Bostic, Barkin,

Quarles, Williams and Kashkari all due.

- In Europe, the BoE will shortly release its Financial Stability Report with a

press conference from Carney later this morning but this is not normally a

market mover. The ECB Accounts will likely be analysed closely for any hints at

future policy, but note that this meeting was held before Draghi's Sintra

address.

- TY1 futures are up 0-4 today at 127-18. Bund futures are down -0.03 at 172.48.

Gilt futures are down -0.14 today at 131.18.