- German bunds have been range bound....>

EGB SUMMARY: - German bunds have been range bound today. The benchmark 2-year

bund yield has traded within a -0.6069%/-0.5951% range, while the 10-year yield

failed to push past the 0.3600% level and has instead edged back down to

0.3444%. Similarly, the curve has been broadly flat with 2s10s trading at

93.6bps and 2s30s at 160.0bps.

- The French curve has steepened during the session. The 2s10s spread has

widened to 110.2bps from 107.0bps and the 2s30s has pushed up to 199.0bps from

196.0bps.

- Italian yields have drifted higher through the day. The 2-year BTP trades at a

yield of 1.206% up from 1.097% and the 10-year trades at 3.134% from 3.067%.

There has been a decent move lower in the 2s30s which now trades at 245.8bps

down from 254.4bps.

- The short end of the Spanish curve has traded within a fairly tight range,

while the longer end has sold off slightly. Key levels: 2-year -0.351%, 5-year

0.3496%, 10-year 1.387%, 30-year 2.521%. 

- The Euribor futures strip is flat to 0.5 ticks lower.