Core EGBs continue to look weak while...>

EGB SUMMARY: Core EGBs continue to look weak while BTPs have ticked up early

Friday, with a slew of data eyed.

- BTPs hit best levels Friday after Feb Manuf. PMI beat already-weak

expectations (47.7 v 47.2 Exp.). Mar 19 BTP future is up 30 ticks at 128.54,

having traded up to 128.58 post-PMI. 2-Yr yield down 4.1bps, leading the curve.

- Spain PMI missing however, 49.9 vs MNI Median 51.8. First time since Nov 2013

below 50. Still, 10-Yr spreads tighter to Bunds by 0.3bps at 98.7bps.

- Mar 19 Bund future is down 5 ticks at 165.26, in middle of day's range after

earlier losses. The 2-Yr yield is down 0.5bps at -0.524%, 5-Yr is up 0.2bps at

-0.275%, 10-Yr is up 0.3bps at 0.186%, and 30-Yr is up 0.1bps at 0.809%.

- German PMI out at 0855GMT, Eurozone at 0900GMT, Feb inflation at 1000GMT.