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SX7E (18th July) 185/165ps, bought for 0.50 in 6k.

Generally sideways trade across major bond futures over the past couple of hours, with headline flow light and London morning ranges intact.

• The recently covered TY block sale applies some modest pressure, although contracts were already away from session highs.
• Lack of meaningful macro developments since London trade got underway, outside of the softer-than-expected German CPI data.
• Core global DM yields flat to 2bp lower on the day, early gilt outperformance vs. Tsys and Bunds more than reversed.
• EGB spreads to Bunds within ~0.5bp of Friday’s closing levels.
• Similarly, major global central bank pricing little changed vs. late Friday levels. 

OEU5 117.50/116.50ps, sold at 29.5 in 2k.