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It has been a busy day for..............>

EGB SUMMARY: It has been a busy day for syndications in the euro are with
Belgium selling a E5.0bn 30y issue, Austria selling a E5.0bn 10y issue and
Greece selling a E2.5bn 5y.
- Against this backdrop, Bunds have sold off a little (albeit less than gilts)
with the German curve bear flattening. Schatz yields are up 1.1bp to 0.571%
while 10y Bund yields are up 0.3bp to 0.208%.
- Peripheral spreads are mixed today with BTP-Bund spreads narrowing 3.3bps
today but French, Portuguese and Spanish spreads all widening a little.
- There has been very little in terms of market-moving specific European data
today, with market focus on external events, such as the Fed decision tomorrow
and the UK's Brexit votes today.
- The calendar picks up tomorrow with French, Austrian and Belgian GDP all due
for release along with German inflation. Through the rest of the week we will
receive more GDP and inflation data, including Eurozone aggregate GDP on
Thursday and flash CPI on Friday.

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