It has been a very quiet session for....>

EGB SUMMARY: It has been a very quiet session for EGBs ahead of the US Veterans

Day holiday. France and Belgium also have a public holiday but these markets

remain open.

- Spanish spreads have moved around 2.2bp wider following the weekend's election

results. It now appears even more difficult for for anyone to form a majority

government.

- The most notable move of the day, however, is in BTPs. There doesn't seem to

be a notable trigger from BTPs to underperform, but spreads to Bunds are 5.3bp

wider on the day at the time of writing. Spreads have no widened from the low

130s on Wednesday to 151bp.

- Bund futures are up 0.11 today at 169.80 with 10y Bund yields down -0.4bp at

-0.268% and Schatz yields up 0.1bp at -0.620%.

- BTP futures are down -0.66 today at 141.18 with 10y yields up 5.3bp at 1.243%

and 2y yields up 3.7bp at -0.90%.

- OAT futures are unch today at 166.45 with 10y yields up 0.8bp at 0.030% and 2y

yields down -0.2bp at -0.586%.