EGB yields have pushed higher today.....>

EGB SUMMARY: EGB yields have pushed higher today. Still weak German IFO data for

June suggests few signs of a near-term acceleration in economic growth, while a

hastily organised meeting of EU leaders over the weekend has failed to alleviate

the pressure facing German Chancellor Angela Merkel.

- The benchmark 2-year bund yield is trading at -0.672%, near the middle of the

day's range. Similarly, the 10-year has pulled back from the intraday high and

is trading at 0.322%.

-  French OAT yields have pushed decisively higher during the session, with the

10-year trading up to 0.711% from a low of 0.688%. The curve has also steepened

with the 2s10s spread widening to 115bps from 112bps at the open.

- Italian BTPs have lost further ground. The benchmark 10-year yield has pushed

up to 2.802% from 2.687% at the open, while the 2-year is up to 0.984% from

0.877% at the open.

- The EURIBOR futures strip has barely moved since the start of the session.