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EGBs have started ECB Thursday on the front....>

EGBS
EGBS: EGBs have started ECB Thursday on the front foot, with German 10-yr Bund
yield last 2.2bp lower at 0.617% while the yield curve is trading a little
flatter. A few bund futures blocks going through this morning, appear to be
buys.
- Swedish Riksbank came out dovish this morning, pushing back first rate hike to
late 2018/early 2019.
- Main event today is the ECB decision at 1245BST followed by the press
conference at 1330BST. Markets are not expecting any new announcements on
policy, however, attention will be on any comments that could prepare them for
possible changes to come in either June or July and the ECBs take on latest
economic data which has appeared on the soft side of expectations. 
- EMU periphery spreads largely flat. EC's Juncker is in Athens today to discuss
Greek fiscal reform plans ahead of bailout ending in Aug, and a day before Greek
FM Tsakalotos presents post-bailout plans to EMU finance ministers.
- No Eurozone bond issuance today, with Italy next scheduled to come to the
market on Friday.

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