EGBs have been fairly directionless.....>

EGB SUMMARY: EGBs have been fairly directionless so far Friday (with the

exception of Greece), with mixed data failing to provide lasting impetus.

- The Mar 19 Bund future is down 8 ticks at 165.23, having traded in a range of

165.12-165.38. Some bear steepening in the German curve mirroring moves

elsewhere:  2-Yr yield is up 0.2bps at -0.517%, 10-Yr is up 0.4bps at 0.187%,

and 30-Yr is up 0.8bps at 0.816%.

- BTPs also well-behaved, with Feb Manuf. PMI beat helping push Mar19 futures up

to day's high of 128.64, but last down 4 ticks at 128.20.

- Greece the eurozone outperformer thus far, with 10-Yr spread over Bunds down

1.7bps (Italy, Spain, Portugal, France spreads mixed, -0.2bps to +0.5bps).

- Greek 10-Yrs close to 3.648% 2018 low; through there lies 2006 yields.

- Greek Feb PMI at 54.2 was a 9-month high. Country has Moody's review tonight;

the agency has the sovereign rated B3 with a positive outlook. 

- Key Eurozone data done for the week, but key U.S. data (ISM, PCE etc) could

provide impetus.