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Core EGBs are slightly higher Friday,...>

EGB SUMMARY
EGB SUMMARY: Core EGBs are slightly higher Friday, having pared strong post-U.S.
payroll gains, while periphery spreads are mixed.
- Spanish 10-Yr/Bund spreads are at lowest since August 2018 at 95.7bps.
Conversely, Italy, Portugal, and Greece 0.5-1.5bps wider of Germany.
- Tonight sees DBRS rate Greece (current rating B (high); positive trend).
France and Turkey also on the review docket.
- Italian curve mixed: The 2-Yr yield is down 3.2bps at 0.442%, 5-Yr is down
1.4bps at 1.427%, 10-Yr is up 0.1bps at 2.553%, and 30-Yr is up 2.6bps at 3.55%.
- Euribor strip set to finish Friday flat, moves limited to +/- 0.5 ticks.
- Next week's data centres largely around industrial / factory production.
- Very heavy bill issuance (E21bln) and a long list of EGB issuers though small
auction volume overall (E10bln). See our previews out earlier this afternoon.
- Latest futures levels:
* Jun Bund futures (RX) up 4 ticks at 165.28 (L: 164.82 / H: 165.45)
* Jun BTP futures (IK) down 1 ticks at 130.71 (L: 130.41 / H: 130.77)
* Jun OAT futures (OA) up 10 ticks at 162.08 (L: 161.61 / H: 162.19)
MarketsFixed Income Bullets
MarketsFixed Income Bullets

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