Despite a decent data calendar and a....>

EGB SUMMARY: Despite a decent data calendar and a raft of supply, EGBs have had

a fairly uneventful morning so far.

- On the data front, the German ZEW was mixed with the current situation

component increasing for the first time since September and beating consensus

but the expectation component fell for the first time since September. European

IP data was marginally better than expected, but only due to revisions while

German and Spanish final CPI readings were in line wit the flash.

- Italy has sold 2022/26/49 BTPs while there have been a number of countries

selling bills including Spain and Belgium.

- Bund futures are down -0.01 today at 166.51 with 10y Bund yields up 0.2bp at

-0.69% and Schatz yields down -0.6bp at -0.640%.

- BTP futures are up 0.12 today at 129.49 while OAT futures are up 0.10 today at

162.71.

- Peripheral spreads are generally unch to a little tighter on the day.

- The Euribor strip is a little higher today.