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A busy session

EGB SUMMARY

A decent session for EGBs and particularly once again the BTP.

  • Bund has traded on the front foot on FTQ, pushing the curve bull flatter.
  • Italian politics are at the forefront, and BTP is trading 64 ticks down at the time of typing.
  • In turn the BTP/Bund spread has widened another 8bps points, to trade at highest levels since November.
  • Looking ahead, White House News Briefing, and UK Boris presser on Covid roll outs.
  • RATINGS:
  • Fitch reviews Greece, EFSF and ESM
  • DBRS reviews Netherland, EFSF and ESM
  • Bund futures are up 0.35 today at 177.15 with 10y Bund yields down -1.5bp at -0.512% and Schatz yields down -1.0bp at -0.713%.
  • BTP futures are down -0.63 today at 149.68 with 10y yields up 6.5bp at 0.750% and 2y yields up 4.3bp at -0.225%.
  • OAT futures are up 0.23 today at 167.00 with 10y yields down -1.0bp at -0.278% and 2y yields up 1.0bp at -0.615%.

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