EGB/Gilt - Push Govies higher

A busy afternoon session, and a continuation from this morning.

• Higher energy prices with some big spikes in Gas price for Europe and the UK, set the tone for bonds (Inflation fears), keeping them offered this morning.
• Bund and EGB's have bounce from their lows this afternoon and are trading at the high of the session, after Russia Putin said that he was prepared to stabilise the Global Energy market.
• This provided some pullback in energy prices.
• Peripherals are all wider, with a notable 3.7bps spread for Greece verusu Bund.
• Gilts have traded in line with Bund today, and were the leaders on the push higher.
• This has limited further widening moves in the Gilt/Bund, spread, as we sit 1.1bp tighter at the time of typing.
• Gilt futures are up 0.22 today at 124.86 with 10y yields down -1.5bp at 1.068% and 2y yields up 0.4bp at 0.452%
• Bund futures are up 0.16 today at 169.82 with 10y Bund yields down -0.6bp at -0.195% and Schatz yields unch at -0.701%.
• BTP futures are down -0.10 today at 151.77 with 10y yields up 1.3bp at 0.872% and 2y yields up 0.7bp at -0.480%.
• OAT futures are up 0.09 today at 165.95 with 10y yields down -0.2bp at 0.157% and 2y yields down -0.1bp at -0.691%.