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Core EGBs have opened higher, with......>

EGB SUMMARY
EGB SUMMARY: Core EGBs have opened higher, with Italian BTPs slightly weaker.
- The Sep8 Bund future rose as much as 13 ticks to 162.65, though have retraced
to 162.55, up 3 ticks on the day. 
- The curve is fairly flat, with 30-Yr Buxl outperforming, down 0.2bps at
1.052%.
- Italian BTPs are weaker, with some reports that Italy has called on the ECB to
enact another round of QE in order to prevent Italy from a ratings downgrade.
Sep8 future off a tick at 122.97, though hit a low of 122.79.
- Supply in focus today, with ESM selling E4bln in 1.85% Dec-55 bond and new
Sep-28 bond; Finland issuing E3bln in new benchmark Sep-28 as well. 
- Germany reopens Oct-23 0.0% Bobl for E3.0bln this morning.
- Eurozone data has passed for the day, with French preliminary 2Q GDP estimate
in line with median forecast and unrevised.

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