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More activity in the shorter end

BUNDS
  • Another fairly stable overnight session for Germany, but despite the low volumes, notable that 5yr (Bobl) and 2yr (Schatz) have traded more than Bund.
  • Not really seen an explanation for it, but volumes are nonetheless on the low side.
  • Quite a decent range for Schatz overnight.
  • In yield terms, upside target is seen at the February high0.331%, which today, reference 162.90, would equate to 162.09.
  • There's very little left on market moving data for the session.
  • UK Inflation expectation, Spanish CPI will be final reading.
  • Most notable release will be the {us} Michigan and its inflation component.
  • SUPPLIES: Italy 3s/7s and 15sSPEAKERS:
  • ECB Rehn and Centeno.

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