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EGBs/GILTs: Core European govvies......>

BOND SUMMARY
BOND SUMMARY: EGBs/GILTs: Core European govvies trade firmer on the day as
coronavirus fears continue to simmer. This morning's UK labour market report was
mixed (wages marginally lower than expectations, while employment growth
surprised higher), while German ZEW data missed (although, as we have noted
before, the survey is typically not market moving).
- Gilts have rallied with the belly of the curve marginally outperforming.
Current yield levels: 2-year 0.522%, 5-year 0.478%, 10-year 0.611%, 30-year
1.107%.
- The German bund curve has bull flattened with the 2s30s spread 2bp narrower.
- OATs at the longer-end of the curve have similarly outperformed with the 30-
and 50-year benchmark yields down 3bp on the day.
- BTPs continue to trade close to flat. 

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