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/EGBs-GILTS: European bonds are off....>

BOND SUMMARY
BOND SUMMARY: /EGBs-GILTS: European bonds are off to the races to start the
week, with the German Ifo figures up shortly.
- Long end of German curve outperforming. The 2-Yr yield is unchanged at
-0.737%, 5-Yr is down 1bps at -0.64%, 10-Yr is down 1.5bps at -0.3%, and 30-Yr
is down 2.1bps at 0.277%.
- BTPs stronger after FT reported European Commission won't trigger EDP on Italy
this week. 10-Yr spread 1.6bps tighter to Bunds.
- Spain affirmed at A-(stb) by Fitch on Friday. 10-Yr spread 0.3bps tighter.
- Weekend headlines of public scrutiny on Boris Johnson not really changing his
odds on winning the UK Conservative leadership (still 80+% favourite).
- German Ifo index at 0900BST is the day's global data highlight: expected to
fall further in June to 97 from 97.9 in May. Latest futures prices:
* Sep Bund futures (RX) up 29 ticks  at 172.36 (L: 172.02 / H: 172.43)
* Sep BTP futures (IK) up 74 ticks  at 134.17 (L: 133.75 / H: 134.44)
* Sep OAT futures (OA) up 31 ticks  at 164.36 (L: 164.14 / H: 164.44)
* Sep Gilt futures (G) up 46 ticks  at 130.64 (L: 130.41 / H: 130.7)

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