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EGB CLOSING SUMMARY: There was very.....>

EGB SUMMARY
EGB SUMMARY: EGB CLOSING SUMMARY: There was very little to add from our London
morning session. This afternoon, EGBs were settled and traded within ranges,
until the main story hit our screens: Spiegel running article citing sources
saying "Chancellor Angela Merkel (CDU) and Finance Minister Olaf Scholz (SPD)
are prepared to give up the goal of a black zero in the federal budget in the
event of a recession", causing Bund to plummet some 30 ticks and looking better
offered at the time of typing.
BTPs have faded some of this morning's sell off, paring losses, but the Bund/BTP
spread is trading where we were trading this morning. 207bps now versus 208bps
this morning.
Peripherals are seeing Greece as the best performer 8.4bps tighter, with the
rest of the bonds sitting 2 to 3bps wider against the German 10yr.
- Bund futures are down -0.56 today at 178.50 with BTP futures down -0.84 at
141.48 and OAT futures down -0.58 at 170.06.

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