Bonds bid so far even with stocks rallying, classic too much liquidity stuff. Curve on a tiny flattening trend in Europe following a not so well received schatz auction (1.7 covered exp 2.2 with 5 bio eur sold, out of 6). Poor reaction again to the figures in T-notes. On balance Gilts outperforming a little. 20 tics range in the bund and we are sitting in the middle. waiting stocks opening for decent price action again.