EGB's saw further downside..............>

EGB SUMMARY: EGB's saw further downside continuation this afternoon, mostly

weighted by supplies and the early better bid in Equities. 

-Germany priced their EU7.5B 15Y DBR +22, which keep the long end German curve

on the back foot this afternoon. 

-Bund are now off their lows, as some fading emerged in Equities, likely

positioning or squaring, with a lower volumes day, and very little reported from

desk. 

-Peripherals are wider against Germany, with Italy sitting at 5bps on the day,

spread at 248.3.

The Jun 20 Bund future is down 96 ticks at 173.45, having traded in a range of

173.32-174.23 today. The 2-Yr yield is up 4bps at 0.751%, 5-Yr is up 4.5bps at

-0.728%, 10-Yr is up 6.1bps at -0.517%, and 30-Yr is up 7bps at -0.067%.

-BTP future is down 102 ticks at 136.25, having traded in a range of

136.13-137.78 today. The 2-Yr yield is up 8.7bps at 0.83%, 5-Yr is up 11.2bps at

1.389%, 10-Yr is up 10.2bps at 1.969%, and 30-Yr is up 8.9bps at 2.78%.