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EGBs/GILTs: The data calendar has......>

BOND SUMMARY
BOND SUMMARY: EGBs/GILTs: The data calendar has been light this morning, with
Coronavirus continuing to dominate the newsflow and keeping the bid in European
govvies.
- The Germany IFO prints for January were mixed: current assessment was in line,
while the business climate and expectations series came in below expectations.
- Ahead of the scheduled publication of the EU's draft negotiating mandate next
week, Brussels and Westminster have upped the rhetoric on respective trade
strategies this morning. The EU's Brexit Chief Michel Barnier has warned that
the time for a trade deal is 'very short' while a Downing Street spokesman
stressed the UK's determination to take back control of fishing waters.
- The gilt curve has bull flattened; marginal outperformance in the belly.
- The longer end of the bund curve has similarly led the rally with the 30-year
benchmark yield down 4bp.
- The 2s10s French OAT spread has narrowed 5bp on the day. 
- Italian BTPs have dominated price action in EGBs. The 7-year benchmark has
outperformed the curve, with the yield down 19bp.

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