Eurozone industrial production data.....>

EGB SUMMARY: Eurozone industrial production data for January came in lower than

expected (-4.2% Y/Y vs -3.3% survey) and comes on the heels of broadly weak

individual country-level IP. 

- Central Bank of Ireland Governor Philip Lane has warned that a no-deal Brexit

would have a severe and immediate impact on the Irish economy.

- The German bund curve has flattened this morning on the back of a modest 1-2bp

rally in long-end yields. The 2s10s spread has narrowed to 68.7bp from 70.4bp.

- French OATs have similarly rallied with slight flattening of the curve.

Current yield levels: 2-year -0.457%, 10-year 0.553%, 30-year 1.549%.

- Italian BTPs are the big mover on the day with yields 4-8bps lower from

yesterday. The 3-year benchmark has outperformed the curve with the yield

trading down to 1.0711% from 1.157%.

- The Spanish parliament has blocked the 2019 budget bill, as widely expected.

There was no immediate reaction in the bond market with yields close to unch. on

the day.

- Euribor futures are broadly flat/1.0 ticks lower.