Bull flatter going into the weekend

A busy but contained session for EGBs.

• Today's focus was on PMI releases, with a beat for France and the EU, while Germany saw a miss.
• Big beat for the US PMI, provided some small widening in TY/Bund spreads (2.3bps)
• The US PMIs triggered some selling interest, whilst EGBs holds onto gains, after Largarde's comment on Yields "Seen Yields increase lately, closely monitoring those".
• Peripherals have mostly traded inline with Germany, although Greece outperforms and sits 3bps tighter on the session
• Looking ahead, Fed Kaplan, Bostic, Barkin at technology conference and Fed Daly on wage dynamics.
• After market, Moody rating on Greece.
• Bund futures are up 0.27 today at 169.11 with 10y Bund yields down -1.7bp at -0.127% and Schatz yields down -0.6bp at -0.660%
• BTP futures are up 0.28 today at 145.93 with 10y yields down -2.3bp at 1.034% and 2y yields down -0.4bp at -0.252%
• OAT futures are up 0.27 today at 159.44 with 10y yields down -1.7bp at 0.246% and 2y yields down -0.7bp at -0.639%.