EGBs are weaker across the board........>

EGB SUMMARY: EGBs are weaker across the board Wednesday amid decent supply and

an upside surprise in Eurozone industrial production data.

- Jun 19 Bund future is down 13 ticks at 164.41. Germany sold Aug-48 Buxl this

morning, fairly small issue (E0.833bln allotted).

- The 2-Yr German yield is down 0.1bps at -0.545%, 5-Yr is up 0.9bps at -0.355%,

10-Yr is up 1.5bps at 0.07%, and 30-Yr is up 2.1bps at 0.738%.

- Jan Eurozone industrial production came in above expectations at +1.4% M/M vs

1.0% MNI median; this was the best figure since Nov 2017.

- Portugal sold E1.25bln in PGBs and Italy raised E7.75bln in BTPs; the latter

was at high end of range and saw decent cover.

- Nonetheless, Jun 19 BTP future is down 37 ticks at 128.43, with curve bear

steepening.

- Periphery spreads coming in: Portuguese 10-Yr PGBs vs Bunds down 1.7bps at

126.5bps; BTPs vs Bunds is up 2.1bps at 250.6bps, with Spain fairly flat.

- ECB's Coeure speaks at 1700GMT. Not much new from ECB's Angeloni earlier.