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EGBs are having a constructive end to...>

EGB SUMMARY: EGBs are having a constructive end to the week, with core and
periphery instruments alike pushing higher late Friday.
- Bunds initially jumped after soft U.S. hourly earnings figures at 1330BST,
then fell sharply, only to recover strongly as the afternoon unfolded.
- Jun 19 Bund future is down 6 ticks at 165.46, with the cash curve trading
mixed (+/- 0.3bps out to the 30-Yr).
- Jun BTP futures are up 22 ticks at 129.57, with 10-Yr cash spreads/bunds
3.7bps tighter at 248.7bps.
- The rest of the periphery performing strongly as well: Spain and Portugal
10-Yr/Bunds trading 1.1bps tighter, with Greece in 8.2bps.
- OAT futures are up more than 50 ticks from the low, last up 14 ticks at 162.14
(L: 161.62 / H: 162.19).
- The Euribor strip is basically flat, with Whites through Blues stable, though
Golds have sold off 2-3 ticks.
- Saturday morning sees ECB`s Mersch speak in Italy; Villeroy speaks in Paris on

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