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Core EGBs are broadly unchanged while...>

EGB SUMMARY: Core EGBs are broadly unchanged while periphery spreads are a
little tighter amid a quiet start to the week Monday.
- Jun Bund futures (RX) steady at at 165.36 (L: 165.24 / H: 165.55).
- German cash curve modestly flatter but limited movement: 2-Yr yield is down
0.7bps at -0.575, 5-Yr is down 0.4bps at -0.409%, 10-Yr is down 0.3bps at
0.004%, and 30-Yr is down 0.3bps at 0.637%.
- BTPs have weakened as the afternoon has gone on; Earlier, Italy deputy PM
Salvini launched European Parliament campaign with allied right-wing populists.
- Jun BTP futures (IK) down 15 ticks at 129.52 (L: 129.35 / H: 129.8). 10-Yr
spread vs Bunds up 1.5bps at 248.7bps.
- Elsewhere, periphery spreads are tightening: 10-Yr Spain in 1.7bps, Portugal
in 3.0bps, and Greece in 4.1bps.
- Jun OAT futures (OA) basically unchanged, down 2 ticks at 162.06.
- Modest risk-off more broadly: Eurostoxx 50 down 0.2%.
- Euribor futures strip is flat, moves limited to +/- 0.5 ticks.
- ECB`s Villeroy speaks at 1645BST.

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