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

BOND SUMMARY
BOND SUMMARY: /EGBs-GILTS: Gilts and Bunds are stronger in early trade, with
bull flattening seen in the curves as equities retrace some of Monday's gains.
- Despite the dip in risk appetite, periphery EGB spreads are a little tighter,
with Greece the exception, 1-1.5bps  wider.
- Plenty of issuance today: In syndications, Cyprus selling dual-tranche; also
EFSF 5-Yr. In auctions, Austria sells 10s and 30s and Germany sells 10-Yr
linkers. And it's the 2nd day of sales for BTP Futura (incl today, E2.6bln of
orders on the books). And plenty of bills.
- Also UK DMO sells GBP3.75bln of 0.125% Jul-23 and GBP2.25bln of 1.25% Oct-41.
- As with Factory Orders yesterday, German industrial prod for May came in on
the soft side. Italy Retail Sales also due out, not much other data 
- BoE's Haldane speaks after market close (1800BST). ** Latest levels:
* Sep Bund futures (RX) up 25 ticks at 176.21 (L: 176 / H: 176.3)
* Sep Gilt futures (G) up 19 ticks at 137.43 (L: 137.33 / H: 137.5)
* Sep BTP futures (IK) up 11 ticks at 144.14 (L: 143.89 / H: 144.35)
* Italy / German 10-Yr spread 0.1bps tighter at 167bps

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