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Core EGBs have rallied sharply over.....>

EGB SUMMARY
EGB SUMMARY: Core EGBs have rallied sharply over the course of Thursday
afternoon alongside US Tsys and Gilts, while periphery gains have faded.
- The Mar 19 Bund future is up 50 ticks at 165.68, having rallied as much as 41
ticks beginning at 1230GMT to 165.71. Tough to see a specific catalyst as it is
not a risk-off move, with equities likewise rallying.
- Earlier, bonds benefited from weak data, including French and Spanish
inflation on the low side, and recessionary Italian Q4 GDP data.
- Friday brings EMU-wide inflation data for January.
- Speaking of Italy, Mar 19 BTP future is up 5 ticks at 129.46, well of the high
of 129.81 earlier. 10-Yr spreads/Bunds 3.2bps wider at 244.2bps.
- Elsewhere, in contrast to 10-Yr BTPs, Spain/Portugal/Greece spreads tighter to
Bunds, by 1.5-3.0bps apiece.
- ECB`s Coeure and Mersch addressed mainly technical considerations rather than
monpol direction; Weidmann up shortly (1600GMT).
MarketsFixed Income Bullets
MarketsFixed Income Bullets

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