- European government bonds closed lower in yesterdayâs session. EGBâs followed gilts into negative territory after much stronger than expected retail sales data was released in the UK, bringing the idea of another Bank of England interest rate hike back into play. - With no major economic numbers scheduled for today, the focus is likely to fall upon comments from the ECBâs Tumpel Gugerell and Stark who are scheduled to speak at 4:45 ET and 7:00 ET respectively. In new supply, Italy will be selling 5-year, 3.5% bonds in an exchange offer; results are expected just after 6:00 ET. - Gilts closed lower in the UK yesterday after retail sales unexpectedly rose to a 13-month high m/, and a 26-month high y/y. - With no major economic numbers, speakers, or new supply scheduled in the session, focus is likely to fall upon technical trading as well as developments elsewhere. Additional focus will fall upon comments from a series of Fed speakers scheduled to speak during the US session.