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Another decent volumes session, but.....>

EGB SUMMARY
EGB SUMMARY: Another decent volumes session, but mostly two way price action
with little in term of clear direction. 
-Event of the day was, an article on Der ZEIT: "Finance Minister Olaf Scholz has
supposedly announced a suspension of the tax brake to give relief to local
gov'ts 
- Some speculation that this could be due to spread of COVID-19 and the federal
gov't seeking to pre-empt any economic impact. 
-However, it seems more likely that the gov't is seeking to ease the economic
burden currently on local municipalities." 
-The story from "Aktuelle Vorabmeldung der ZEIT " triggered a fast sell off into
Bunds, some 35 tics, but we have since recovered some of the drop, with main
flow dominated by Rolls,, while Covid-19 Virus continues to claim centre stage. 
-Peripheral have fared a little better, and despite the BTP being still 25 tics
down on the day, the contract is trading some 60 tics up from today's low. 
-Other peripherals spreads (France, Spain, Portugal) are trading close to
ranges, 1bp wider versus the Bund. 

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