A largely quiet day for EGBs with.......>

EGB SUMMARY: A largely quiet day for EGBs with Bunds largely taking cues from

equities and Treasuries with the key event of the day Fed Chair Powell's speech.

- Peripheral spreads have moved tighter across the board, BTPs outperforming.

- Monthly IP for March was released this morning and plummeted by 11.3% in Mar,

coming in slightly above expectations, while the annual rate fell by 12.9%.

Among the member states, Italy (-28.4%), Slovakia (-20.3%) and France (-16.4%)

posted the biggest m/m declines, while Ireland (+15.5%), Greece and Finland

(both +1.9%) recorded monthly gains.

- The German 30y auction saw very strong demand while Finland issued a 10y USD

bond for E1.5bln (E1.0bln had been expected). Portugal's 5y and 10y OT auctions

were also smooth. ** Latest levels:

* Jun Bund futures (RX) up 40 ticks at 173.77 (L: 173.44 / H: 173.92)

* Germany: The 2-Yr yield is down 2.5bps at -0.746%, 5-Yr is down 2.3bps at

-0.74%, 10-Yr is down 3.2bps at -0.537%, and 30-Yr is down 4.2bps at -0.105%.

* Italy / German 10-Yr spread 7.2bps tighter at 232.3bps