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Flat-lining is the general theme for....>

EGB SUMMARY
EGB SUMMARY: Flat-lining is the general theme for the EGB market this morning.
The Bund contract opened almost unchanged from last night and has traded in a
very narrow range ever since at around 163.02.
- The Italian market is picking up a little more momentum as Sicilian election
results showed the Centre-Right coalition garnered 40% of the vote, ahead of the
M5S candidate at 35% and the Centre-Left Democratic candidate in third at 19%.
- Currently, the Bund-BTP spread is 1.7bp tighter on the session at 143.2bp,
around 1bp above the 2017 low.
- The ECB's Lautenschlaeger said that she would have preferred if the QE
programme was ended, in her typically hawkish rhetoric.
- Later this morning, Germany sell of 13Y linker and Austria sells E1.15bln of
5Y and 10Y paper, a rather small and low duration offering from Austria.

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