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EGBs have weakened slightly to open.....>

EGB SUMMARY: EGBs have weakened slightly to open the week, with periphery
spreads slightly wider.
- The German Bund curve is a little steeper, with 2-yr yields up 0.2bps at
-0.648%, 10-yrs up 0.3bps at 0.308%, and 30-yrs up 0.4bps at 0.974%.
- Italian BTP yields are wider still, with 2-yr spreads over Bunds out 0.9bps at
194.8bps, and 10-yrs out 1.1bps at 282.7bps. The spread widening move comes
after significant narrowing at the very end of last week.
- The rest of the periphery is trading mixed, with Spain 10s out 0.4bps vs
Bunds, Portugal 0.4bps narrower. 
- Greece trading flat vs Bunds on a day in which Greece has officially concluded
its ESM programme.
- The Euribor futures strip is largely unchanged, some 0.5 tick drops seen in
Green and Blue contracts.
- Light EMU data this week until PMIs on Thursday. Attention today on Bundebank
board member Johannes Beerman`s speech at Buba forum at 1600GMT, and later on
ECB Weidmann at Central Bank Research Association at 1800GMT.

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