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A mix morning session of EGBs and.......>

EGB SUMMARY
EGB SUMMARY: A mix morning session of EGBs and very traded volumes, given that
the UK are out on Bank Holiday. 
-Open price action saw BTP outperforming Bunds on the open with both contract
going better bid from the get go. 
-BTP/Bund are already 4bps tighter in early trading, and now 8bps tighter at the
time of typing. 
-France OATs, where also sitting in green territory,with the 10yr spread against
Germany trading at the low of the day, but just 1bp tighter so far. 
-Bunds and Tnotes were better bid on safer haven flow ahead of the awaited NFP
later this afternoon. 
- BTPs: Despite the Moody Italian Rating expected later tonight, circa 21.30BST,
it seems the contract is benefiting from that Politico piece, where the EU
commission is trying to get Italy to accept money from the ESM.
-- Bund futures are up 0.08 today at 173.97 with BTP futures up 0.88 at 137.91
and OAT futures up 0.23 at 167.96.

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