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EGB/GILT: Gilts and core EGBs have.....>

BOND SUMMARY
BOND SUMMARY: EGB/GILT: Gilts and core EGBs have rallied this morning while the
periphery has traded weaker and equities across the region trade mixed. 
- Gilt cash yields are flat/1bp lower on the day. The Sep-20 gilt future trades
at 135.48, near the middle of the day's range.
- The bund curve has bull flattened with the 2s30s spread 2bp narrower.
- The longer end of the French OAT curve has similarly marginally outperformed.
- BTPs have traded softer, albeit with price action relatively contained. 
- Supply this morning came from Germany (bubills, E5.71bn) and the Netherlands
(DTCs, E4.89bn).
- With last week's decision by the ECB to raise the PEPP by EUR600bn and a much
better than expected US jobs report on Friday both now in the rear view mirror,
focus shifts to this week's FOMC meeting.

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