- German bund yields have continued.....>

EGB SUMMARY: - German bund yields have continued to push lower during the

afternoon with the very long-end outperforming. The 2-year benchmark yield

trades at -0.5999% down from a high of -0.585% while the 10-year trades at

0.310% down from 0.344%. The 2s10s spread has narrowed to 90.4bps from 92.0bps

while 2s30s has traded down to 157.1bps from 158.9bps.

- The French curve has similarly flattened with 2s10s and 2s30s down around 1bp.

- The short-end of the BTP curve has rallied throughout the day, while long-end

yields took a sharp leg lower from 1400BST. The 2-year yield has pushed down to

0.661% from a high of 0.791% on the back of fresh signs that the government may

be willing to dilute its 2019 spending plans.

- The belly of the Spanish curve has underperformed the broader rally. The

2Y5Y10Y butterfly trades at -43.5bps up from -49.1bps.

- Euribor futures are broadly unchanged on the day.