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A fairly quiet end to the week..........>

EGB SUMMARY
EGB SUMMARY: A fairly quiet end to the week Friday, with attention turning to
next Thursday's key ECB meeting.
- Bunds trading mixed, 2-Yr yield down 1.5bps at -0.767%, 10-Yr is down 0.9bps
at -0.319%, 30-Yr is up 0.3bps at 0.28%. Sep futs trading in tight range, up 11
ticks at 173.36 (L: 173.27 / H: 173.57)
- Euribor futures up across the strip, strongest in Dec21-Sep22 (up 3 ticks).
- Most intrigue has surrounded potential early elections in Italy; a BBG sources
piece in the morning suggested Salvini had 48 hours to make up his mind.
- BTP 10-Yr 7.6bps wider of Bunds; Spain and Portugal flat, Greece 3bps out.
- Focus turns swiftly to next Thursday's ECB GC decision. While only a couple of
sell-side analysts expect a rate cut (Commerz and MUFG see 20bps reduction),
consensus is that Draghi + Co will set the stage for easing in September.
- Full ECB preview out early next week. Latest EGB futures prices:
* Sep BTP futures (IK) down 61 ticks at 138.92 (L: 138.6 / H: 139.84)
* Sep OAT futures (OA) up 7 ticks at 165.71 (L: 165.62 / H: 165.91)

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