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/EGBs/GILTS: EGBs and Gilts are........>

BOND SUMMARY
BOND SUMMARY: /EGBs/GILTS: EGBs and Gilts are trading weaker early Friday, with
US nonfarm payrolls likely to be the focus of the day.
- Greece outperforming in the EGB space, with EC`s Dombrovskis saying this
morning that Athens has met conditions for a E1bln cash disbursement for debt
relief; 10-Yr spread vs Bunds down 1.2bps at 360.5bps.
- Spain spreads fairly flat (in 0.2bps) vs Bunds, Spain industrial production
declined more than expected (-0.3% Y/Y) in Feb, but Jan revised up.
- Jun 19 Bund future is down 20 ticks at 165.32. German industrial production
surprised to the upside (+0.7%M/M), on the back of a surge in construction.
- Jun Gilts likewise down 22 ticks at 128.13, with weakness across the cash
curve: The 2-Yr yield is up 2.5bps at 0.716%, 5-Yr is up 2.3bps at 0.853%, 10-Yr
is up 2.3bps at 1.107%, and 30-Yr is up 2.1bps at 1.65%.
- PM May will reportedly send a letter to E.U.'s Tusk today seeking a Brexit
extension; Tusk said to favour a 12-month "flexible" delay.
- No particularly key data out this morning; focus is on the U.S. employment
report at 1330BST.
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