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- German bunds have rallied during......>

EGB SUMMARY
EGB SUMMARY: - German bunds have rallied during the session, with long-end
outperformance causing the curve to flatten. The benchmark 10-year bund yield
trades at 0.406% down from a high of 0.428%, while the 30-year yield has edged
down 1.081% from a high of 1.105%. The 2s10s spread has narrowed to 95.1bps from
96.6bps while the 2s30s has traded down to 162.6bps from a high of 164.2bps.
- The French curve has similarly flattened, with the 2s30s spread pushing down
to 200.7bps from an intraday high of 202.3bps.
-  The morning rally in Italian BTPs has subsided, with sideways trading during
the afternoon. The 2-year benchmark currently trades at 0.822% and has held
within a 0.685-0.8499% range, while the 10-year trades at 2.966% and has
oscillated within a 2.890-2.997% range.
- The shorter end of the Spanish curve has traded within a tight range and the
curve is a touch steeper on the day.
- Euribor futures whites are down 0.5 ticks, while greens/blues are up 1.0-1.5
ticks.

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