Steady start for the week

EGBs are trading mixed in the European morning session, as investors turn their attention to the ECB on Thursday.

• German Bund is just off the lows on small short cover, with risk slightly better offered on the margin,
• The curve trades flat, while peripheral spreads are generally tighter, with Greece leading at 2.8bps.
• Gilts are outperforming, up 20 ticks at the time of typing.
• The contract looks to close the gap to 128.71, now at 128.67.
• US treasuries have traded inline with EGBs, on a light volume session. Looking ahead, no tier 1 data are schedule, nor Central Bank speakers, with the ECB and now the Fed on blackouts.
• Some small attention this afternoon on US Joe Biden meeting lawmakers to discuss his jobs plan.
• Bund futures are up 0.07 today at 170.98 with 10y Bund yields down -0.7bp at -0.271% and Schatz yields unch at -0.696%.
• BTP futures are up 0.23 today at 148.56 with 10y yields down -1.7bp at 0.729% and 2y yields down -0.5bp at -0.365%.
• OAT futures are up 0.10 today at 161.63 with 10y yields down -1.0bp at -0.21% and 2y yields unch at -0.664%
• Gilt futures are up 0.23 today at 128.67 with 10y yields down -2.1bp at 0.742% and 2y yields down -1.0bp at 0.026%.
• TY1 futures are up 0-4+ today at 132-16+ with 10y UST yields down -2.6bp at 1.556% and 2y yields down -0.4bp at 0.158%.