EGB yields have broadly drifted.........>

EGB SUMMARY: EGB yields have broadly drifted higher since the morning, with

little in the way of data or political news to serve as catalysts.

- German bunds have had a relatively quiet session. The benchmark 2-year yield

has edged up to -0.675% from a low of -0.684, while the 10-year has traded up to

0.334% from 0.325% at the open. There has been little movement in the curve,

with 2s10s trading at 99.8bps and in line with the open.

- The French OAT curve has steepened slightly, with the 2s10s spread trading up

to 116.7bps from a low of 115.3bps. The 10-year OAT yield trades at 0.731% up

from 0.714% at the open.

- Italian long end bonds have experienced some of the sharpest moves. The

benchmark 10-year yield has risen to 2.903% from a low of 2.795%, while the

2-year has sold-off by a more modest 4.6bps through the session to 1.02%.

- Similarly, the 10-year Spanish yield has pushed up to 1.389% from 1.347 at the

open, with the 2-year trading up to -0.206% from -0.225%.

- The EURIBOR futures strip has steepened with Greens and Blues down 1.5-3.0

ticks.