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BTP TECHS

Bearish Focus

GILT TECHS

(M1) Stalls At 129.27

SCHATZ TECHS

(M1) remains In A Corrective Cycle

BOBL TECHS

(H1) Finds Resistance

BUND TECHS

(H1) Bearish Engulfing Candle

CHINA PRESS

China GDP May Grow 8.7% In 2021: Daily

EGB SUMMARY
EGB SUMMARY: - The German bund curve has flattened during the day on the back of
short-end yields edging up. The benchmark 2-year bund trades at -0.619% up from
a morning low of -0.629%, while the 2s10s spread has narrowed to 100.1bps from
101.4bps.
- The short end of the French OAT curve has rallied since the open with the
2-year trading at -0.429% from -0.417%.
-  Trading in Italian BTPs has been relatively contained compared to recent
sessions with yields down 6-8bps from the highs. The curve is steeper with 2s10s
up 7bps and the 2s30s widening by 9bps. With mounting signs of a slowdown in
growth and labour market data released today indicating a significant uptick in
unemployment, the Italian government has remained adamant that it will persevere
with its spending plans.
- Spanish bond yields have drifted lower across the curve with the 10-year
trading at 1.550% down from 1.579%.
- The Euribor futures strip is broadly 0.5-2.0 ticks lower.