EGBs have broadly drifted upwards.......>

EGB SUMMARY: EGBs have broadly drifted upwards throughout the afternoon without

ever threatening to rally.

- The Mar 19 Bund future is up 22 ticks at 163.6, having traded in a range of

163.43-164.01. 

- The Bund cash curve has seen mixed performance today, with the short end

losing ground whilst the long end gained. The 30-Yr yield was the biggest mover,

down 3.1bps at 0.83%. 

- The 2-Yr Bund yield is up 0.6bps at -0.598%, 5-Yr up 0.2bps at -0.297%, and

10-Yr down 0.8bps at 0.231%.

- The Mar-19 BTP future consolidated morning gains this afternoon. Adding a

further 13 ticks after 1200GMT to trade 74 ticks up on the day at 127.74. 

- The belly of the BTP curve was the big outperformer dropping 7.3bps to 1.751%.

The 2-Yr yield is down 2.9bps at 0.411%, 10-Yr is down 3.9bps at 2.733%, and

30-Yr is up 0.6bps at 3.536%. 

- Italy are set to announce their final auctions of the year tonight at 1730GMT.

- Elsewhere 10-Yr Bund spreads rose 1.2bps for PGBs, and finished flat for SGBs.