News Headline Summary

Markets lacking firm direction with light volumes and little newsflow; few economic data points and major central bank events are due this week, and investors remain cautious around the fiscal cliff and debt ceiling in the US...

Update details:

- EUR/USD trades range-bound heading into the US cross-over, and the USD-Index flat, trading down just 0.03%.
- Bund futures trade above their open of 144.71 at 144.84 last, consolidating after a volatile open.
- In the cash bourses, all are in the red with the exception of the FTSE MIB which outperforms as a correct following the solid sell-off seen last week.
- BTPs also outperform due to redemption flows, IT/GE 10s tighter by 6.5bps whereas Spain wider by 1.5bps.

Print 12:40, 17 Dec 2012 - Market Analysis - Source: RANsquawk