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BONDS: EGBs retain their bids in early trading, but upside is capped ahead of
supplies and the lack of clear direction in Risk during our EU open. 
-Peripherals are a touch wider, with Spain and Portugal underperforming the
most, but just 2bps wider against the German 10. 
*Next stop sees Spanish supply at 09.40BST and France at 09.50BST.

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