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EGB SUMMARY: A more subdued range.......>

EGB SUMMARY
EGB SUMMARY: EGB SUMMARY: A more subdued range bound affair this afternoon for
EGB's.
-Bund remained underpinned, better bid, helped by the underlying bid in Tnotes
following the US PMI release. The latter coming out pretty mixed on the margin.
-ECB President Mario Draghi Testified at European Parliament, but very little
new in the statement or speech.
-Draghi: ECB is ready to.
-Spreads versus the German 10 yr are use all instruments.
-Peripheral and particularly the BTP are also better bid across the board, with
spread a touch tighter against the German 10yr.
- Bund futures are up 1.10 today at 174.57 with BTP futures up 1.04 at 145.70
and OAT futures up 1.17 at 170.59.

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