Largely unch ahead of the Labor Day holiday

Gilts and Bunds are a little higher in cash terms this morning with futures largely unch and Treasuries futures little changed in a fairly steady session coinciding with the Labor Day holiday.

• The highlight of the overnight session for gilts was an appearance by new MPC member Catherine Mann in her first public comments since her term began on 1 September (her only comments previously being in her pre-appointment hearing). Her comments focused more on the US than the UK but she said that the Fed was not behind the curve and has tools to address inflation concerns. Mann is already seen as fairly dovish (although with little to judge this on yet) and her comments overnight gave little to change this impression.
• There is not much on the calendar today outside bubill, DTC and BTF auctions. There could potentially be an EGB syndication announcement (Spanish 20-year Green bond)?
• TY1 futures are down -0-1+ today at 133-11 with cash UST closed.
• Bund futures are up 0.01 today at 172.30 with 10y Bund yields down -0.5bp at -0.368% and Schatz yields up 0.1bp at -0.720%.
• Gilt futures are unch today at 128.35 with 10y yields down -0.7bp at 0.708% and 2y yields down -0.6bp at 0.188%.