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EGBs/GILTS: Gilts and core/semi-core...>

BOND SUMMARY
BOND SUMMARY: EGBs/GILTS: Gilts and core/semi-core EGBs are trading weaker
Tuesday, with Italy spreads widening sharply.
- Lots of questions about Italy underperformance this morning. Likely related to
politics following weekend headlines of tension in the ruling coalition.
- Salvini commented that the government was not at risk; earlier headlines
reported he`d called for elections in October (though he publicly denied this).
- S&P review of Italy (BBB-, neg) ahead Friday potentially also weighing.
- Spread of 10-Yr Italian BTPs vs Bunds is up 6.5bps at 264.6bps; Spain a little
wider as well (up 2bps), while Portugal is flat and Greece is 2bps tighter.
- Cyprus is launching 5-/30-Yr 2024 and 2049 EUR benchmarks via syndication,
according to mandate announced this morning.
- Latest futures prices: 
* Jun Bund futures (RX) down 38 ticks at 164.84 (L: 164.71 / H: 165.13)
* Jun BTP futures (IK) down 105 ticks at 129.1 (L: 129.03 / H: 130.11)
* Jun OAT futures (OA) down 50 ticks at 161.52 (L: 161.47 / H: 161.91)
* Jun Gilt futures (G) down 36 ticks at 126.78 (L: 126.74 / H: 127.05)

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