Quotes from Nordea Markets:
-Bond yields tried to rise yesterday on the back of a report showing wage pressures picking up in the US, but plunging equity markets soon brought bond yields back lower.
-The German 10-year yield ended the day lower by around 1.5bp, while the corresponding US yield was close to unchanged (but shorter US yields dropped).
-Intra-Euro-zone spreads saw mixed performance, with Portuguese spreads jumping on the back of more banking sector worries around Banco Espirito Santo, which is in need of more capital after heavy losses.
-Core bond yields are likely to head higher today on more news of wage pressures picking up in the US, but further equity weakness should limit the losses for bonds.
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