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Yields remain elevated in Europe

BONDS
  • A very quiet start for cross assets, but EGBs and German are nonetheless still elevated and multi year highs.
  • Peripheral spread are all tighter against the German 10yr.Greece is in the lead by 2.8bps.
  • French, German and EU final CPIs were revised lower, but had no impact on markets.
  • Looking ahead, US NFP and ISM Services Index will be in focus.
  • SPEAKERS; Include ECB Holzmann and Fed Brainard (Discusses community reinvestment Act).
  • US Treasuries are stable, with Tnotes flat on the day, ahead of the Data.
  • June contract:
  • Bund futures are down -0.22 today at 150.04 with 10y Bund yields up 1.1bp at 1.245% and Schatz yields up 0.4bp at 0.617%.
  • BTP futures are down -0.04 today at 125.53 with 10y yields down -0.1bp at 3.295% and 2y yields up 0.7bp at 1.154%.
  • OAT futures are down -0.28 today at 142.58 with 10y yields up 1.7bp at 1.774% and 2y yields up 0.1bp at 0.450%.
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