Ahead of a planned EU-China summit......>

EGB SUMMARY: Ahead of a planned EU-China summit next month, France has

reportedly signed EUR30bln in new business contracts with China, including an

order for 300 aircraft from Airbus. 

- Following assertions from Brussels that the EU has completed no-deal Brexit

preparations, the European Commission yesterday published contingency plans on

its website.

- French Q4 GDP Q/Q was in line with consensus 0.3%, with the Y/Y estimate

slightly above survey (1.0% vs 0.99%). The INSEE Business and Manufacturing

confidence surveys reported a marginal improvement in March. 

- EGBs have broadly opened weaker. Current yields of German bunds: 2-year

-0.573%, 5-year -0.401%, 10-year -0.025%, 30-year 0.586%.

- French OAT yields are <1bp higher across the curve. The very long-end has

marginally underperformed.

- The Italian BTP curve has flattened on the back of shorter-end yields pushing

higher.  

- Euribor futures are flat/0.5 ticks higher in whites/reds.