EGBs-GILTS: Speakers And Supply (Again) In Focus

Bunds and Gilts have turned lower in early Weds morning trade after an early push higher, with periphery spreads a little tighter. Attention is on speakers and, again, supply.

• Equities mixed early on, with EUR and GBP a little stronger.
• ECB's Panetta speaks in European Parliament at 1245BST (earlier, de Guindos reiterated to lawmakers that the ECB would react to detrimental tightening of financial conditions), Lagarde in a "fireside chat" at 1500BST, Schnabel in a webinar at 1800BST. BoE's Haskel appears at 1530BST.
• After Tuesday's deluge of bond supply, today sees Slovakia 15-Yr syndication (underway, MNI expects E1.5-2.5bln size), as well as 30-Yr Gilt linker (GBP0.6bn) and German Aug-38 Bund (E1.5bn) auctions.
• Not much in the way of European data, with Eurozone Feb Ind Prod at 1000BST.

Latest levels:

• Jun Bund futures (RX) up 13 ticks at 171.39 (L: 171.35 / H: 171.62)
• Jun Gilt futures (G) up 10 ticks at 128.31 (L: 128.27 / H: 128.47)
• Jun BTP futures (IK) up 27 ticks at 148.48 (L: 148.39 / H: 148.62)
• Italy / German 10-Yr spread 0.8bps tighter at 103.3bps