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/EGBs-GILTS: A weak start for Bunds....>

BOND SUMMARY
BOND SUMMARY: /EGBs-GILTS: A weak start for Bunds and Gilts (though off early
lows) as markets continue to digest Tuesday's German court decision and the
subsequent ECB brush-off.
- By the same token, Italian spreads off the tightest levels seen earlier.
- Ugly services PMIs in the Eurozone, Spain missing expectations to downside,
Italy to upside. France/Germany/EZ later all finals. Mar EZ retail sales and
European Commission forecasts out later. Apr UK Construction PMI at 0930BST.
- Supply in focus: Germany 5-Yr for EUR4bln, UK sells GBP5.5bln in 2 Gilts. And
Slovakia syndicating dual 5-Yr/30-Yr.
- ECB's Villeroy speaks at 1430ET. ** Latest levels:
* Jun Bund futures (RX) down 34 ticks at 174.07 (L: 173.95 / H: 174.23)
* Jun Gilt futures (G) down 17 ticks at 137.91 (L: 137.81 / H: 137.98)
* Jun BTP futures (IK) up 4 ticks at 137.31 (L: 137.1 / H: 137.78)
* Italy / German 10-Yr spread 1.1bps tighter at 243.4bps

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