EGBs pare losses on Trump trade.........>

EGB SUMMARY: EGBs pare losses on Trump trade comment. 

-Global Government Bond stayed mostly under pressure throughout the after

session, with BTP underperformance leading Bund and OATs lower. 

-Plenty of questions the past few days regarding BTP, which at one stage were

down another 152 ticks during today session. 

-Few reasons have floated this week in the street, including Buyback

announcement, dovish tone taken away from Draghi and Guindos, market has become

against negative rates suddenly-not to mention QE in Europe, as well as Italian

banks to inject fresh money into deposit guarantee fund. 

-Despite EGBs being better offered, market faded some of the moves, following

Trump saying that "he did not agree to roll backs on tariffs" 

-Peripheral are 2 to 5.5 bps wider against the German 10s, with Italy at 5bps. 

-EGB's are now buoyed going into the weekend on President Trump rhetoric.

- Bund futures are down -0.03 today at 169.54 with BTP futures down -0.62 at

141.74 and OAT futures down -0.05 at 166.28.