EGBs have broadly sold through the......>

EGB SUMMARY: EGBs have broadly sold through the day with core-periphery spreads

widening.

- The German bund curve has steepened on the back of the longer-end

underperforming. The 2s30s spread trades at 128.1bps and has widened 2.1bp on

the day.

- French OATs have traded mixed. The very long-end has been under slightly more

pressure with the benchmark 30-year yield trading at 1.482% up from a low of

1.465%.

- Trading ranges in Italian BTPs have been relatively contained today. Yields

are ~1.9-3.3bp higher across the curve. 

- The 30-year benchmark has led the sell-off across the Spanish sovereign curve.

The 2s30s spread has widened by 2.9bp on the day. Current yield levels: 2-year

-0.289%, 5-year 0.156%, 10-year 1.202%, 30-year 2.357%.

- Eurozone industrial production for January came in better than expected (-1.1%

Y/Y vs -2.1% survey)