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EGBs/GILTS SUMMARY: Supply and the.....>

BOND SUMMARY
BOND SUMMARY: EGBs/GILTS SUMMARY: Supply and the German IFO survey are the
morning`s focus on Wednesday, with bonds ticking higher.
- Weaker-than-expected Apr German IFO figures (99.2 vs 99.7 in March and 99.9
expected) and misses on the expectations sub-index pushed Bunds to day`s high,
with the German curve bull flattening.
- This came ahead of supply this morning, with Germany re-opening benchmark
10-Yr Bund and Italy selling CTZ and linkers.
- Globally, bonds trading with a stronger tone following weaker-than-expected
Australian CPI data. Gilts followed through, with futures opening higher.
- Euribor strip a little stronger, Short-Sterling up 2.5-3.0 ticks further down
the strip (Greens-Golds).
- Latest futures levels:
* Jun Bund futures (RX) up 22 ticks at 165.16 (L: 164.96 / H: 165.29)
* Jun BTP futures (IK) up 26 ticks at 129.42 (L: 129.21 / H: 129.48)
* Jun OAT futures (OA) up 16 ticks at 161.72 (L: 161.61 / H: 161.82)
* Jun Gilt futures (G) up 24 ticks at 127.08 (L: 126.98 / H: 127.15)

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