Steady ahead of US Thanks Giving

A steady session for EGBs, albeit better bid, as Equities faded yesterday's rallies boosted by the US transition proceeding.

• Equity pullback was corrective and led by position squaring, profit taking, ahead of FOMC minutes tonight, but mainly going into US Thanks Giving tomorrow.
• German curve has traded mixed, although leaning bull flatter at the time of writing.
• Peripheral have lagged somewhat, and as such trade a touch wider versus the German 10yr.
• BTP printed another record high in Futures, 15157, now trading at 151.33 at the time of typing.
• Some focus on Portugal, with the 10yr yield reaching another all time low (0.009%), but just short of zero and negative territory.
• Bund futures are up 0.17 today at 175.43 with 10y Bund yields down -1.6bp at -0.580% and Schatz yields down -1.0bp at -0.761%.
• BTP futures are up 0.03 today at 151.37 with 10y yields down -0.6bp at 0.605% and 2y yields up 0.6bp at -0.412%.
• OAT futures are up 0.12 today at 170.07 with 10y yields down -1.3bp at -0.344% and 2y yields down -0.5bp at -0.689%.