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Bonds are trading flat-to-higher.......>

BOND SUMMARY
BOND SUMMARY: Bonds are trading flat-to-higher with a modest risk-off tone early
Friday, though a slew of central bank speaking engagements lies ahead.
- Mar19 TNote futures are unchanged at 121-29, trading in a 3-tick range. Curve
a little flatter: 2-Yr yield down 0.8bps, 10-Yr down 1.1bps, 30-Yr down 1.4bps.
- Big Fed speaker slate today: Clarida, Williams, Bostic, Bullard, Harker &
Quarles all on the docket. Additionally, 1100ET/1600GMT sees the text of Fed
Chair Powell's semi-annual report to Congress.
- Gilts trading with a stronger tone as a near-term deal on Brexit looks
increasingly elusive: Mar 19 futures up 32 ticks at 124.03.
- A bit of risk-off in EGBs ahead of an appearance from ECB Pres Draghi at
1115ET/1615GMT.  Mar 19 Bund future is up 25 ticks at 166.32.
- Italian BTP futures are weaker, with the Mar19 future down 23 ticks, and the
curve bear flattening (2-Yr yield up 3.9bps at 0.511%, 10-Yr is up 2.6bps at
2.859%). 10-Yr spread vs Germany up 4bps at 274.6bps.
- JGB futures are trading flat, Mar19 steady at 152.90.

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