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EGB/Gilt - Off the lows

BONDS
  • A stable session for EGBs and Bund this afternoon, with lower liquidity, volumes for the session, with the US out during their Bank Holiday.
  • Bund faded off the overnight lows and closed the upside gap to 169.90, printed 169.92 high.
  • Most peripheral are close to flat against the German 10yr.
  • The standout is Greece, which has widened by 5.3bps, at widest levels since mid December.
  • Gilt has mostly traded inline with their German counterpart, albeit a touch wider on the spread, by 1.3bp
  • Mar Bund futures (RX) down 33 ticks at 169.75 (L: 169.53 / H: 169.92)
  • Germany: The 2-Yr yield is up 1.2bps at -0.571%, 5-Yr is up 1.4bps at -0.35%, 10-Yr is up 1.6bps at -0.03%, and 30-Yr is up 1.3bps at 0.265%.
  • Mar Gilt futures (G) down 29 ticks at 123.07 (L: 122.95 / H: 123.22)
  • UK: The 2-Yr yield is up 3.3bps at 0.829%, 5-Yr is up 2bps at 0.99%, 10-Yr is up 2.9bps at 1.179%, and 30-Yr is up 3.1bps at 1.286%.
  • Mar BTP futures (IK) down 33 ticks at 145.75 (L: 145.61 / H: 146.01)
  • Mar OAT futures (OA) down 35 ticks at 161.88 (L: 161.7 / H: 162.05)
  • Italian BTP spread down 0.1bps at 131.8bps
  • Spanish bond spread unchanged at 68.4bps
  • Portuguese PGB spread up 0.2bps at 60.1bps
  • Greek bond spread up 5.2bps at 163.2bps

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