There's been a dearth of market-moving catylysts to get our teeth into this morning, and bonds have drifted lower (thus yields drift higher)
Perhaps the bonds are weakening on the knowledge that the ECB is done buying for the year, as I mentioned this morning
Newsquawk notes:
"Although EU stocks have stalled and turnover is getting even more seasonally light, bonds have succumbed to another bout of selling pressure and a firmer bounce in oil could be fuelling the move in absence of anything else of note, bar ECB commentary highlighting upside inflation risks and the ongoing COVID-related newsflow. Bunds have now lost grip of the 174.00 handle at 173.85 (57 ticks sub-par) and Gilts are under 126.50 at 126.39 (-43 ticks and less than single digits from their post-BoE rate hike base). Meanwhile, US Treasuries are softer and the curve steeper, partly in sympathy, but perhaps also making room for looming 20 year supply."
Here's how the 10-year landscape looks -
