Better offered throughout the session

EGBs have mostly been better offered throughout today's session.

• Some of the moves have been led by the Gilts with the contract leading to the downside, following hawkish comments from BoE Vlieghe: " Early rate hike possible if smooth furlough transition"
• This has in turn moved the Gilt/Bund spread wider.
• EU peripherals have followed Bunds, albeit underperforming somewhat, pushing spreads tighter and BTP by 2.2bps, with decent selling of Cash BTP on screen across the strip.
• Looking ahead, ECB Schnabel is the only speaker left.
• Jun Bund futures (RX) down 44 ticks at 169.85 (L: 169.79 / H: 170.38)
• Germany: The 2-Yr yield is up 1.2bps at -0.654%, 5-Yr is up 2.3bps at -0.554%, 10-Yr is up 3bps at -0.176%, and 30-Yr is up 3.2bps at 0.381%.
• Jun BTP futures (IK) down 10 ticks at 147.17 (L: 147 / H: 147.41)
• Jun OAT futures (OA) down 28 ticks at 160.39 (L: 160.32 / H: 160.82)
• Italian BTP spread down 2.2bps at 110.5bps
• Spanish bond spread down 0.5bps at 65.3bps
• Portuguese PGB spread down 0.7bps at 65bps
• Greek bond spread down 1.3bps at 105.2bps