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EGBs are edging lower in thin European.........>

EGBS
EGBS: EGBs are edging lower in thin European markets with majority of yield
curves steepening as the long-end sees most selling pressure this morning.
German 10-yr Bund yield is 0.9bp higher at 0.349%, with 2s/30s 1.1bp wider.
- Japanese markets were closed over night and so there was little direction for
markets to go on, however US President trump's meeting with Russia President
Putin in Helsinki is the main event today. 
- EMU periphery are fairing slightly worse so its not a genuine risk-on tone to
markets as equities are also trading mixed. Italy is leading the
underperformance at the moment with 10-yr Bund/BTP spread is 0.5bp wider at
221.1bps.
- There is limited Eurozone data and official speakers scheduled today with
trade balance data for May crossing the wires at 0900GMT, so focus will be on
the Trump/Putin meeting.
- EGB supply this week is from German, France and Spain, however this is offset
by redemption and coupon payments from Netherlands

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