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EU National PMIs set the tone for the...>

EGB SUMMARY: EU National PMIs set the tone for the day's session. 
-With lack of data or speakers this afternoon, market price action have stayed
fairly subdued, albeit better bid throughout the afternoon session. 
-Peripheral spread are small wider against the German 10yr, with Italy sitting
3.5bps wider in the spread. 
-Better set of US data, provided a better bid into the USD, in turn keeping the
EURUSD under pressure, and Bund underpinned, but within ranges for the Bund
- Bund futures are up 0.36 today at 171.11 with BTP futures down -0.22 at 141.91
and OAT futures up 0.32 at 167.56.

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