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EGBs are trading broadly flat today.....>

EGB SUMMARY
EGB SUMMARY: EGBs are trading broadly flat today as BTPs have faded earlier
gains.
- The Dec 18 Bund future is up 21 ticks at 158.93, near today's highs, having
traded in a range of 158.72-159. The 2-Yr yield is down 1.3bps at -0.576%, 5-Yr
is down 1.8bps at -0.123%, 10-Yr is down 1.7bps at 0.474%, and 30-Yr is down
1.5bps at 1.105%.
- Italian BTPs remain higher on the day but off highs, with the Dec 18 future up
14 ticks at 121.14 vs day's low of 121.71.
- From being an outperformer this morning, Italy is now performing in middling
fashion vs the EGB periphery, with 10-Yr Italian spread vs Bunds up 0.6bps at
296.8bps, Spain out 1bps at 116.2bps, Portugal out 0.1bps at 145bps, and Greece
0.6bps narrower at 378.6bps.
- French OATs are a little tighter to Bund as well, 10-Yr in 1.6bps at 35.0bps.
- Euribor futures rallying further down the strip, Greens and Blues down 2.5-3.0
ticks.

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