It has been a fairly quiet morning......>

EGB SUMMARY: It has been a fairly quiet morning for Bunds but a rally in equity

financials has has helped see peripheral spreads tighten.

- At the time of writing 10y Spain-Bund spreads were 3bp tighter on the day,

BTP-Bund spreads 4.8bp tighter and Portugal-Bund spreads 4.5bp tighter.

- Italian Finance Minister Tria has again reiterated that Italy will stick to

its EU budget commitments, and stated that he expects growth to be higher in H2.

Political headlines are likely to rumble on ahead of the European elections.

- Today's economic data calendar remains sparse with the highlight Thursday's

flash PMI and IFO data.

- Bund futures are down -0.08 today at 166.71 with 10y Bund yields up 0.8bp at

-0.81% and Schatz yields up 0.7bp at -0.641%.

- BTP futures are up 0.36 today at 129.88 with 10y yields down -4.0bp at 2.659%

and 2y yields down -5.7bp at 0.592%.

- OAT futures are down -0.03 today at 162.83 with 10y yields up 0.6bp at 0.315%

and 2y yields up 0.7bp at -0.564%.