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EGBs/GILTS: European bonds have........>

BOND SUMMARY
BOND SUMMARY: EGBs/GILTS: European bonds have traded in choppy fashion early
Thursday, with Sweden setting the tone.
- Main event has been Sweden`s Riksbank coming out dovish this morning, holding
rates but removing one 25bps rate hike from its 2020 outlook (compared with its
Feb outlook). Repo rate path shows 0% chance of July hike, 0-10% of Sep hike.
- Gilts and Bunds got a lift in the wake of the decision though have come back
slightly. Risk-off bid helped by reports of Deutsche/Commerz merger collapsing.
- BTP spreads widening a bit further, ahead of Friday`s S&P review.
- Euribor and Short-Sterling strips fairly flat.
- Little in the way of key European data today and no EGB supply.
- ECB releases economic bulletin at 0900BST; ECB`s de Guindos speaks at 1330BST.
- Latest futures prices:
* Jun Bund futures (RX) down 1 ticks at 165.72 (L: 165.62 / H: 165.8)
* Jun BTP futures (IK) down 34 ticks at 129.5 (L: 129.43 / H: 129.87)
* Jun OAT futures (OA) down 13 ticks at 162.14 (L: 162.08 / H: 162.25)
* Jun Gilt futures (G) down 9 ticks at 127.36 (L: 127.3 / H: 127.47)

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