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The Bund Dec-17 contract made fresh.....>

EGB SUMMARY
EGB SUMMARY: The Bund Dec-17 contract made fresh highs of 161.28 this morning,
but has since pared back some of the gains. 
- Volumes were light today with the Dec-17 contract trading only 76% of the 10
day daily average volume. The German 10Y yield is currently trading at 0.474%,
which is 0.9bp lower on the day.
- In Spain, Catalan President rejected an offer to address the Spanish Senate.
Events are moving quickly with the Vanguardia newspaper reporting that a call
for elections in Catolonia is imminent for Dec 20. Also, according to El Mundo
the Catalan President Carles Puigdemont is due to speak at 1330CET. The
Bund-Bonos spread tightened aggressively in the past half an hour and is is
currently trading at 113.7bp.
- The Italian Treasury saw good demand for the new CTZ Oct-19 and also for the
BTPei May-28.
- It has been a relatively quite day as markets await ECB President Mario Draghi
to speak at 1330BST, with a possibly market moving release at 1245BST.  

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