Core EGBS have traded sideways this.....>

EGB SUMMARY: Core EGBS have traded sideways this afternoon. The majority of

today's action came this morning after weak PMI data, coupled with continued

geopolitical tensions, saw Bunds rally as periphery EGBs and the Euro lost

ground.  

-  The Mar-19 Bund future is up 38 ticks at 163.25 having traded in a range of

162.91-163.30 today. 

- The belly of the Bund cash curve outperformed today, the 10-yr yield is down

3.5bps to trade at 0.25%. The 2-yr is down 2.7bps at -0.609%, 5-yr down 3.4bps

at -0.305% and the 30-yr down 1bps at 0.885%.  

- French OATs have gained today with the 2s10s tightening by 2.3bps. The 2-yr

OAT yield is down 0.2bps at -0.459%, the 10-yr down 2.2bps at 0.704%. 

- The Mar-19 BTP future is down 16 tick at 125.19 having traded in a range of

124.98-125.61. 

- The short end of the curve has underperformed. The 2-yr yield is up 3.6bps at

0.581% , 5-yr yield up 3.1bps at 2.035%, and 10-yr up 1.4bps at 2.97%.

- Draghi speaks in Pisa tomorrow, with EZ inflation data due Monday.