EGB/Gilts - Bear steeper

Another fairly busy session for EGBs, with curves reversing some of the flattening bias.

• Bund has been better offered throughout the session, with 5/30s moving bear steeper, steepest since the 16th July.
• Peripheral are mixed, with Portugal 0.4bp wider, while Italy sits 0.8bp tighter.
• Gilts are also down on the session, with contract 41 ticks at the time of typing
• UK 5/30s is steeper, but short of yesterday's high that was 76.256, now at 75.094.
• The Gilt/Bund spread has widened by 2.5bps today.
• Looking ahead, we have nothing left on the calendar and attention will now turn to the ECB tomorrow.- Gilt futures are down -0.45 today at 129.45 with 10y yields up 3.2bp at 0.595% and 2y yields up 0.8bp at 0.095%.
• Bund futures are down -0.15 today at 175.70 with 10y Bund yields up 0.6bp at -0.406% and Schatz yields down -0.3bp at -0.721%
• BTP futures are down -0.01 today at 153.32 with 10y yields unch at 0.685% and 2y yields down -0.1bp at -0.417%
• OAT futures are down -0.10 today at 161.40 with 10y yields up 0.2bp at -0.56% and 2y yields unch at -0.686%.