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As to be expected, a fairly range......>

BOND SUMMARY: As to be expected, a fairly range bound session for Global Govies
ahead of the awaited Main Event.
-EGB's were better bid throughout our morning session, with the likelihood of
some short term punt going into the ECB and/or potential positioning.
-BTP kept at pace with Bunds, leading the contract into positive territory.
-Peripherals are mixed with best performer against the German 10s, Greece at
4.4bps tighter on the spread, and the worst Italy at 1.5bps wider. 
-Gilts have somewhat struggled on the back of the better bid in GBPUSD, but the
move in the FX pair was more a USD sell off function. USD is broadly offered
across the board in G10 and EM FX.
-There was very little to report in Treasuries, with price action taking their
cue from European Government Bonds.
-ALL EYES on the ECB with plenty of split consensus out there.

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