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Core EGBs opened Friday weaker with.....>

EGB SUMMARY
EGB SUMMARY: Core EGBs opened Friday weaker with Italian BTPs paring sharp gains
at the open on news that the US could buy Italian debt.
- Corriere della Sera citing high-level sources that US President Trump offered
help with buying Italian bonds next year when meeting with PM Conte three weeks
ago. Few details available. Sep8 BTP future jumped 49 ticks to 124.19 though
gains have faded, last up 15 ticks at 128.85.
- Bund Sep8 futures are 3 ticks lower at 163.03, up a bit from the low this
morning of 162.96. The curve is steeper, with Sep8 Schatz flat at 111.98. German
Q2 GDP came in line with the MNI median forecast at 0.5% Q/Q.
- Periphery spreads a little tighter, with 10-Yr BTPs in 1bps at 273.8bps,
Spanish 10-Yrs in 0.7bps at 102.6bps, and Portgual in 0.5bps at 145.4bps.
- Light calendar today on the European front, with attention mainly on the US
Fed's Jackson Hole symposium, including Fed Chair Powell speaking at
1000EST/1400GMT on "Monetary Policy in a Changing Economy".

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