It has been another volatile day in.....>

EGB SUMMARY: It has been another volatile day in the EGB space, with periphery

traders seemingly unconvinced of ECB efforts to reassure on support.

- Italian 10-Yr BTP spreads had fallen by as much as 34bps vs Bunds late morning

as a parade of former and current ECB officials attempted to row back Thursday's

comments by Pres Lagarde on spreads; highlight was Italy's Visco saying the ECB

could front-load bond purchases if necessary, and could take further steps.

- Also lending support were further headlines from the EU and German authorities

on economic support and fiscal expansion; core/semi-core now on the lows.

- Periphery spreads collapsed but then reversed course as equities peaked and

headed lower (now just above flat on the day), 10-Yr BTP spread last at 235bps

(L: 217bps/H:258bps). Latest levels:

* Jun Bund futures (RX) down 245 ticks at 174.05 (L: 173.81 / H: 176.57)

* Jun BTP futures (IK) down 116 ticks at 137.19 (L: 135.45 / H: 139.96)

* Jun OAT futures (OA) down 219 ticks at 167.04 (L: 166.83 / H: 168.48)