Bear steeper going into the weekend

EGBs remains heavy this afternoon, with risk underpinned.

• German curve sits bear steeper as the long end under performs.
• This has in turned, pushed peripheral spreads tighter against the German 10yr.
• Greece leads at 3bps.
• Looking ahead, BOE's Tenreyro speaks at San Francisco Fed conference.
• After markets, we get some rating decisions
• FITCH; Belgium, Cyprus, S&P: Germany, DBRS: EU
• Jun Bund futures (RX) down 46 ticks at 172.12 (L: 171.91 / H: 172.58)
• Germany: The 2-Yr yield is up 0.1bps at -0.715%, 5-Yr is up 1.9bps at -0.679%, 10-Yr is up 3.4bps at -0.35%, and 30-Yr is up 3.7bps at 0.212%.
• Jun BTP futures (IK) down 26 ticks at 149.95 (L: 149.61 / H: 150.26)
• Jun OAT futures (OA) down 39 ticks at 162.68 (L: 162.46 / H: 163.12)
• Italian BTP spread down 0.5bps at 95.9bps
• Spanish bond spread down 0.8bps at 63.8bps
• Portuguese PGB spread down 0.9bps at 52.4bps
• Greek bond spread down 2.7bps at 121.5bps