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Services PMIs and Supplies the early focus

  • A fairly steady overnight session for Bund and Treasuries, with contracts trading where they were yesterday afternoon.
  • Focus out of the US is firmly on Inflation to gauge how gradual the Fed will be.
  • Later today sees the FOMC minutes, but focus is already towards next week's US CPI release.
  • Today, attention turns to European and US Services PMIs. Italian CPI, US ADP and FOMC minutes.
  • SUPPLIES: Some early focus on supplies, with Spain 2024, 2028, 2037 and a 2027 linker. German 10yr EU4bn Bund (equates to 26.2k Bund).
  • SYNDICATION: Italy 30yr and Slovenia 4y and 40yr

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