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- German bunds have rallied since the...>

EGB SUMMARY: - German bunds have rallied since the morning. The benchmark 2-year
bund yield has traded down to -0.653% from -0.647%, while the 10-year has pushed
down to 0.2988% from 0.3172%. The curve has flattened with the 2s10s spread
narrowing to 94.3bps from 95.6bps, while the 2s30s has fallen to 160.4bps from
- French OATs have similarly rallied. The 2-year trades at -0.471%, 5-year at
-0.012%, 10-year at 0.648% and 30-year at 1.554%.
- Italian BTP yields have pushed lower throughout the session. The benchmark
2-year BTP yield has traded down to 1.1988% from an intraday high of 1.2957%,
while the 10-year is down to 3.064% from high of 3.135%. The curve has steepened
with the 2s30s spread widening to 244bps from 238bps.
- There has been a similarly robust move in Spanish bonds, with the 2-year yield
pushing down to -0.328% and around the session lows. 
- The EURIBOR futures strip is broadly flat to 0.5 ticks higher on the day.

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