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EGB/Bund - Reversed all the early losses

BONDS
  • A mixed session for EGBs and Bund, with contracts back in the green this afternoon.
  • Markets have traded in wide ranges, helped by the lower than average volumes.
  • Most desks sits on the sidelines ahead of a packed week for speakers and data.
  • The pullbacks have mostly been led by the 5yr part of the curve, in turn pushing curves steeper.
  • Peripheral spreads are all wider, with Greece in the lead, by 7.5bps.Looking ahead, all the attention turns to tomorrow, with plenty of speakers scheduled.
  • Jun Bund futures (RX) up 61 ticks at 151.55 (L: 150.49 / H: 151.57)
  • Germany: The 2-Yr yield is down 8.1bps at 0.239%, 5-Yr is down 6.7bps at 0.784%, 10-Yr is down 2.2bps at 1.11%, and 30-Yr is up 0.5bps at 1.246%.
  • Jun Gilt futures (G) up 53 ticks at 118.1 (L: 116.87 / H: 118.13)
  • UK: The 2-Yr yield is down 11.4bps at 1.392%, 5-Yr is down 8.4bps at 1.576%, 10-Yr is down 4.4bps at 1.951%, and 30-Yr is down 1.6bps at 2.157%.
  • Jun BTP futures (IK) up 12 ticks at 126.5 (L: 125.54 / H: 126.54)
  • Jun OAT futures (OA) up 45 ticks at 143.79 (L: 142.92 / H: 143.91)
  • Italian BTP spread up 3bps at 203.4bpsSpanish bond spread up 0.2bps at 110.7bps
  • Portuguese PGB spread up 0.7bps at 114.3bps
  • Greek bond spread up 7.9bps at 252.3bps

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