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EGB/GILT SUMMARY: Most of the focus....>

BOND SUMMARY
BOND SUMMARY: EGB/GILT SUMMARY: Most of the focus was on the EU Commission
proposal, which would include EU500bn in grants and EU250bn in loans to combat
the Covid-19 crisis. 
-The EUR and peripherals took the plan in its stride, pushing the currency and
peripheral Bonds higher, as they would benefit most from the deal, if/when it is
to pass. 
-The proposal has to be agreed by all 27 members states and we are likely to see
plenty of debates in the coming weeks. 
-Italy, Spain and Portuguese bind rallied, and their respective spreads
tightened against the German 10yr. 
-Greece is outperforming, trading 7.8bps tighter, Italy 4.3bps, Portugal 4.2bps
and Italy 4bps. -Gilts have traded in a 24 ticks range, with most of the volume
dominated by more position roll into the September contract. 
- Gilt futures are up 0.13 today at 138.13 
- Bund futures are down -0.01 today at 172.15 
- BTP futures are up 0.59 today at 142.04 

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