U.S. 10y treasury yields are currently 1bp higher at 4.4% with markets weighing up the possibility o...
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The UK's Minister for EU Relations, Nick Thomas-Symonds, confirms that a deal has been reached with the EU ahead of the EU-UK Summit taking place later today. Reports in the past hour suggested the EU and UK have reached a deal on fisheries that will allow a broader agreement to be signed at today's UK-EU summit. Chris Mason at the BBC writes "A 12-year deal has been done on fishing access for EU boats into UK waters, which will no doubt prompt a big row. The government will argue it has secured improved trading rights for food and agricultural products into the European Union. A defence and security pact will be central to the deal set out in a few hours. Both sides will emphasise the shared desire for deepening cooperation."
J.P.Morgan have recommended entering 3s/10s BTP steepeners boxed vs. Germany as a “low beta proxy for an underweight BTP position”.
Futures trade as low as 91.20 at the open, comfortably through Friday’s late lows, extending on the downtick that was seen ahead of the weekend (the contract closed Friday’s opening gap higher late in the same session).