There is a lack of Euro-centric market.........>

EGBS: There is a lack of Euro-centric market moving events and the headliner

becomes the US CPI (Tues) and retail sales (Wed). There is the release of a

number of European final CPI's culminating with the EZ final HICP on Friday. 

- There is a cluster of ECB speakers on Wednesday (Coeure, Draghi, Praet,

Villeroy de Galhau).

- This week, EGB supply is sizeable (E30.75bln) in the Eurozone with the

highlight being a new Dutch 10Y tomorrow and Italy the same day, which includes

a new 7Y BTP. Wednesday is Germany 30Y and Portugal. Thursday is the bumper

collection from French nominals/linkers, Spanish and UK Gilt. Importantly on

Wednesday, Greece says goodbye to 3m and 6m bills and issues 12m bills. 

- There is a 13bln Schatz redemption on Friday, although the ECB will own a

large portion of this and could take time to reinvest. There are E3.9bln of EGB

coupon payments.

- Technically, for the Bund key support is at the 156.22 March 8 low. On the

upside, there is the 157.69 March 5 high and then a bull channel top, which is

some way off at 158.16 today.