EGBs were largely rangebound through....>

EGB SUMMARY: EGBs were largely rangebound through the morning session. Bunds

rose alongside a strong Gilt open, but sank after above-consensus IFO numbers,

then bounced again. All of that within a 44 tick range but by 1000GMT unchanged.

- Weakness throughout the afternoon though, RXs off 50+ ticks on no particular

news flow. ECB speakers Lagarde, Coeure had little impact though the latter`s

call for an ECB inflation tolerance band was of some note.

- Greek spreads dropped sharply on BBG hed: "ECB May Let Greek Banks Buy More of

Country's Sovereign Debt", 10-Yr GGBs now inside BTPs (first time since 2008).

- Thursday`s attention is on non-Eurozone cenbanks including Riksbank, Norges

and BoE - contact us for previews (Norges yet to be published).

** Levels of note:

* Mar Bund futures (RX) down 54 ticks at 171.59 (L: 171.54 / H: 172.4)

* Germany: The 2-Yr yield is up 1.4bps at -0.625%, 5-Yr is up 2.8bps at -0.523%,

10-Yr is up 4.1bps at -0.254%, and 30-Yr is up 4bps at 0.262%.

* Greece / German 10-Yr spread 9.9bps tighter at 154.6bps

* Italy / German 10-Yr spread 0.4bps tighter at 156.4bps