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Some focus on Schatz supply

BUNDS

A tight open for Bund (176.08-176.18) given the lack of new news overnight.

  • German curve is flat, and peripheral trades tighter on the margin.
  • Very little in terms of market moving data for today, and on the speaker front, ECB de Cos is the only scheduled ECB speaker.
  • SUPPLIES: Some focus on Schatz EU4bn (equates 36k Schatz, or ~5k Bund),
  • Also, EU mandate Banks for the first 10, 20yr social Bond
  • Main focus remains on Brexit talks, which are set to resume this week and the state of play, on the US stimulus.

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