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EGB/Gilt -Paring gains

BONDS
  • A more steady afternoon session, but contract still trade in large ranges for the day.
  • EGBs and Bund are drifting back lower heading towards the end of the European session.
  • Bund is back in the red at the time of typing, dragging EGBs lower, but the contract is nonetheless still within the 243 ticks range.
  • Peripheral spread remain tighter, with Greece in the lead by 25.3bps, followed by Italy by 12bps.Gilt has traded inline with Germany and the Gilt Bund spread is flat on the day.
  • Sep Bund futures (RX) down 46 ticks at 143.28 (L: 142.56 / H: 144.99)
  • Germany: The 2-Yr yield is up 1.8bps at 1.185%, 5-Yr is up 1.3bps at 1.556%, 10-Yr is up 3.2bps at 1.746%, and 30-Yr is up 6bps at 1.909%.
  • Jun Gilt futures (G) down 39 ticks at 111.6 (L: 111.58 / H: 112.91)
  • UK: The 2-Yr yield is up 12.9bps at 2.244%, 5-Yr is up 8bps at 2.252%, 10-Yr is up 4.2bps at 2.559%, and 30-Yr is up 4.7bps at 2.722%.Sep BTP futures (IK) up 85 ticks at 119.13 (L: 117.88 / H: 120.97)
  • Sep OAT futures (OA) down 31 ticks at 134.32 (L: 133.79 / H: 136.04)
  • Italian BTP spread down 11.1bps at 192.3bps
  • Spanish bond spread down 8.3bps at 109bps
  • Portuguese PGB spread down 9bps at 103.6bps
  • Greek bond spread down 25.8bps at 229.8bps

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