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Although EU leaders are divided on......>

EGB SUMMARY
EGB SUMMARY: Although EU leaders are divided on whether to offer the UK an
extension for Brexit negotiations (and for how long), the European Commission
was unequivocal yesterday in calling for member states to ramp up no-deal
preparations. 
- Mirroring the move in gilts, German bunds opened stronger but started selling
off early into the session. Current yield levels: 2-year -0.586%, 10-year
0.248%, 30-year 0.851%. 2s10s has steepened slightly, trading up to 82.6bps from
a low of 81.4bps.
- French OATs have marginally sold off with yields trading near the highs of the
morning.
- Italian BTPs have lacked direction this morning and have oscillated within a
tight range. The curve is 1.5-2.0bps steeper.
- Euribor futures are broadly trading flat/1.0 ticks higher.
- The data calendar is light today. Next up will be the German/Eurozone ZEW
print for January which will be published at 1000GMT.

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