Core and periphery EGBs on Monday.......>

EGB SUMMARY: Core and periphery EGBs on Monday afternoon recovered earlier

losses as global equities turned lower and ECB Pres Draghi made comments.

- The Mar 19 Bund future is down 19 ticks at 164.88, off the low of 164.69 set

around 1330GMT. Meanwhile the cash curve has bear steepened: 2-Yr yield is up

0.2bps at -0.578%, 5-Yr is up 0.6bps at -0.29%, 10-Yr is up 1.8bps at 0.211%,

and 30-Yr is up 3.3bps at 0.809%.

- BTP futures are down 31 ticks at 128.68, well off the 128.37 low.

- Draghi talking before European Parliament, echoing last Thursday's ECB

presser: blaming uncertainty on global trade for recent EMU economic weakness,

with balance of risks to the outlook moving to the downside.

- However, he said that the ECB was unlikely to alter its policy path unless

things go 'very wrong'.

- Greek bonds have seen a decent rally, following news of a forthcoming 5-Yr

benchmark syndication: 10-Yr spreads vs Bunds down 4.8bps at 384.3bps.

- Other syndications announced include Austria (10-Yr) and Belgium (30-Yr).

- ECB`s Villeroy set to speak Tuesday morning.