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EQUITIES

Markets Lower

OIL

Crude Futures Extend Losses

JGBS AUCTION

PREVIEW: 5-Year Supply Due

CHINA RATES

Futures Hit Contract High

JGBS

Equities Dip Lends Support

EGBs-GILTS: Core Turning Lower

BOND SUMMARY

Gilts and Bunds have moved lower following a solid start, with BTP spreads compressing. Equities in the green, with the dollar stronger vs EUR and GBP.

  • Eyes on Rome, as Italy PM Conte's meeting w his cabinet underway (he has confirmed that he will resign following the meeting, per Reuters sources, and plans to form a new gov't, as was reported Monday).
  • A light data slate (UK employment out earlier was modestly better than expected) sees supply taking centre stage, with the Netherlands, the UK and Italy holding auctions, and EU SURE 7s and 30s syndication underway.
  • ECB's Centeno and de Cos appear separately at 1600GMT.

Latest levels:

  • Mar Bund futures (RX) down 15 ticks at 177.68 (L: 177.67 / H: 177.96)
  • Mar Gilt futures (G) down 14 ticks at 134.59 (L: 134.58 / H: 134.84)
  • Mar BTP futures (IK) steady at at 150.63 (L: 150.43 / H: 150.78)
  • Italy / German 10-Yr spread 1.2bps tighter at 121.6bps
MNI London Bureau | +44 203-865-3807 | tim.cooper@marketnews.com