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EGBs open with a risk-on tone once again.......>

EGBS
EGBS: EGBs open with a risk-on tone once again supported by amical words from
Trump/Kim Jung-un summit and comments from ECB Nowotny that he does not see a
real crisis in Italy. German 10-yr Bund yield is 1.3bp higher at 0.507% and
10-yr Bund/BTP spread is 4.3bp tighter at 230bps.
- German yield curve has shifted modestly higher, while the 5-yr sector of the
BTP is leading the rest of the curve lower.
- Trump and Kim signed a "comprehensive agreement"  which included wording that
North Korea would work towards "complete denuclearization" and corporate on
future relationship. Trump is due to give a press conference shortly.
- Looking ahead the main events today will be German ZEW survey for June, UK
jobs data and US inflation for May. The Netherlands and Finland both come to the
bond issuance market Tuesday in the 5-yr and 20-yr sector respectively.
- Euribor strip is mixed with white contract steady to 0.5 tick higher, and
green and blue contracts 0.5 to 1 tick lower.

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