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Eurozone bonds have traded without......>

EGB SUMMARY
EGB SUMMARY: Eurozone bonds have traded without decisive direction early
Wednesday, with core instruments a little stronger and peripheries steady.
- Not the greatest Bund auction this morning, with 1.4x real cover (vs 1.6x last
time); RX sold off through the results, hitting day`s low.
- Still, short end of German curve is weakest, with 2-Yr yield up 0.6bps, vs 5s
through 30-yr down 0.2-0.5bps.
- Periphery EGBs trading mixed ahead of EU elections beginning Thursday: Italy,
Spain, Portugal 0.4bps wider of 10-Yr Bunds, while Greece 0.3bps tighter.
- Italy's Di Maio said Rome would seek a top economic post in the new
Commission. Salvini said he wants to remove `all limits` from the EU on growth.
- Portugal exchanged E742mln 3.85% Apr-21 PGB for 2.875% Jul-26 PGB.
- Nothing market-moving out of either ECB`s Draghi or Praet appearances earlier.
- Latest futures prices:
* Jun Bund futures (RX) up 6 ticks at 166.55 (L: 166.44 / H: 166.72)
* Jun BTP futures (IK) up 2 ticks at 130.05 (L: 129.98 / H: 130.24)
* Jun OAT futures (OA) up 8 ticks at 162.76 (L: 162.67 / H: 162.87)

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