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EGBs are little changed to begin........>

EGB SUMMARY
EGB SUMMARY: EGBs are little changed to begin Tuesday, considering developments
in global trade, and Brexit/Italy risks eyed.
- The Dec 18 Bund future is down 14 ticks at 160.15, having traded in a range of
160.1-160.28. Curve largely flat.
- BTPs futures off 10 ticks at 122.51, spreads continuing to creep wider (10-Yr
up 2.2bps at 306.3bps).
- Italy is likely to introduce an "automatic spending cuts mechanism" if growth
falls in a bid to win over the European Commission and avert an Excessive
Deficit Procedure over its budget plans, government sources told Market News.
- No surprises expected at resubmission of budget today, though.
- Spanish, Portuguese, Greek spreads/Bunds up slightly (0.5-1.2bps).
- French OAT curve largely flat, 5/10-Yr yields unchanged.
- Plenty of supply today: Italy, Germany and Netherlands coming to EGB market.
- German Oct flash CPI in line this morning; ZEW numbers out at 1000GMT. 
- ECB`s Praet said earlier `significant` stimulus is still needed, but confident
on inflation convergence to target. ECB Lautenschlager speaks at 0845GMT.

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