EGB/GILT SUMMARY

EGBs have mainly bear Steepened today, as curve unwind yesterday's price action.

• No real clear driver, beside some consolidations in Bund.
• BTP dipped on news that Draghi plans to borrow up to EU40bn, to keep the Economy afloat.
• Peripheral are trading wider today, with Italy sitting 3.9bps wider, mostly driven by the Italian news.
• Gilts have traded in line with EGBs, on a lighter volume session.
• Looking ahead, US PPI is the only notable data, as Wholesale Inventories will be final reading.
• Speakers: ECB de Giundos, Riksbank's Ingves and Breman at IMF, and Fed Kaplan
• Jun Bund futures (RX) down 48 ticks at 171.41 (L: 171.39 / H: 172.07)
• Germany: The 2-Yr yield is up 1bps at -0.704%, 5-Yr is up 2.8bps at -0.64%, 10-Yr is up 3.6bps at -0.3%, and 30-Yr is up 3.5bps at 0.259%.
• Jun Gilt futures (G) down 38 ticks at 128.1 (L: 128.09 / H: 128.5)
• UK: The 2-Yr yield is up 1.4bps at 0.06%, 5-Yr is up 2.7bps at 0.367%, 10-Yr is up 4.5bps at 0.794%, and 30-Yr is up 4.6bps at 1.33%.
• Jun BTP futures (IK) down 85 ticks at 148.48 (L: 148.45 / H: 149.27)
• Jun OAT futures (OA) down 51 ticks at 161.87 (L: 161.85 / H: 162.53)
• Italian BTP spread up 3.9bps at 103.7bps
• Spanish bond spread up 1.7bps at 68.7bps
• Portuguese PGB spread up 2.3bps at 59.2bps
• Greek bond spread up 0.8bps at 117.4bps