After yesterday's big move, the EGB.....>

EGB SUMMARY: After yesterday's big move, the EGB market is much calmer today.

Bunds are almost unch with peripheral spreads all generally tighter on the day.

- There is little on today's data calendar so the market continues to look to

headline risk as the biggest driver. Italian politics continues to be worth

watching ahead of the EU elections but across the Channel in UK May's position

is also looking fairly precarious as she seems senior members of the 1922

Committee today. If May's position became clearer, the next steps for Brexit

might also begin to be clarified but only after a likely lengthy leadership

battle which could weigh on risk sentiment across the Eurozone too.

- Bund futures are up 0.03 today at 166.97 with 10y Bund yields down -0.2bp at

-0.101% and Schatz yields up 0.2bp at -0.655%.

- BTP futures are up 0.28 today at 129.38 with 10y yields down -4.2bp at 2.704%

and 2y yields down -5.3bp at 0.683%.

- OAT futures are up 0.16 today at 163.16 with 10y yields down -1.1bp at 0.292%

and 2y yields up 0.4bp at -0.575%.