Core EGBs remain near day`s highs as....>

EGB SUMMARY: Core EGBs remain near day`s highs as disastrous manufacturing PMI

data continues to be digested Friday.

- The Jun 19 Bund future is up 57 ticks at 165.42, just off 165.44 high.The 2-Yr

yield is down 1bps at -0.559%, 5-Yr is down 2.4bps at -0.386%, 10-Yr is down

4.3bps at -0.002%, and 30-Yr is down 6.7bps at 0.613%.

- German Mar flash manuf PMI fall to 44.7 setting the risk-off tone.

- Periphery spreads widening significantly as equities drop. Spread of 10-Yr

Italian BTPs vs Bunds is up 7.7bps at 249.2bps. Greece also 7.7bps  wider, while

Spain and Portugal are out 3-4bps each.

- French services and manufacturing PMIs both also disappointed, though spreads

fairly steady, with 10-Yr OATs flat vs Bunds at 36.1bps.

- Done for ECB speak and Eurozone data for the week; attention turns to U.S.

data later today (March Markit PMIs, existing home sales, etc) and any Brexit

headlines over the weekend.