The Bund future opened lower at.........>

EGB SUMMARY: The Bund future opened lower at 160.56 in response to an aggressive

tax plan introduced by Trump that helped push the 10Y Treasury yield above the

200 day moving average.

- Since the poor start, the EGB market has only weakened and is currently

trading close to the low of the day at 160.29. 

- Equity markets are carving out small gains this morning and other risk-related

weather vanes like the yen are marginally softer; the JPYUSD was last at 113.10,

+0.27 yen.

- Spanish CPI data came in slightly weaker than expected and the German State of

Saxony was a touch above expectations. They were released at the same time but

it appeared that the market put more emphasis upon the German data and traded

lower.

- Peripheral debt is stronger today, despite the fact that Italy sells 5Y, 10Y

and 7Y CCTeu debt later in the session.

- Aside from German CPI data and Eurozone confidence data, there is a speech by

ECB's Peter Praet at 0900BST and one by Saubine Lautenschlaeger at 1345BST.