- German bund yields have inched........>

EGB SUMMARY: - German bund yields have inched higher throughout the day with the

very long-end underperforming. The 2-year benchmark yield trades at -0.616% up

from -0.639% while the 10-year is up to 0.268% from 0.241%. The 2s10s spread has

traded sideways since the morning session.

-  French OATs have similarly sold off with underperformance at the short-end

causing the curve to flatten. The 2s10s spread has narrowed to 112.6bps from

114.5bps.

- Italian BTPs have rallied with trading in a relatively contained range. The

2-year benchmark yield has edged down to 0.581% from a high of 0.668%.

- There has been limited movement at the short-end of the Spanish government

curve, while the longer end has rallied. The belly of the curve has outperformed

with the 5-year yield trading down to 0.407% from 0.442%.

- Euribor futures are broadly 0.5-1.5 ticks lower across the strip.