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Italian Senate and US Yellen in focus

BUNDS

Bund trades on the back foot since the cash and Govies open , albeit in a tight range.

  • A continuation from Monday's pullback, after PM Conte won a confidence vote in the lower chamber yesterday evening.
  • Curve leans bear steeper, and BTP/Bund spread in turns trades 2.2bps tighter.
  • Focus today, very little on the data front for Europe, with only the German ZEW left on the calendar of note.
  • Very unlikely a market mover, with short term focus on Italian Politics.
  • Attention on Italian confidence vote in the senate, with Conte set to speak at 08.30GMT.
  • France syndication, EUR 50yr.
  • ALL EYES on Yellen's confirmation hearing before the Senate Finance Committee at 15.00GMT

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