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It's been a roundabout day for EGBs.....>

EGB SUMMARY: It's been a roundabout day for EGBs. After some weakness in early
trading, this was reversed going into the NY session, and we have just traded in
a range ever since. Peripheral spreads have tightened, however.
- Data this morning has done little to move the docket, with a better than
expected German ZEW and mixed Italian and French IP data.
- The market is continuing to look ahead to Thursday's ECB meeting.
- Bund futures are down -0.12 today at 172.25 with 10y Bund yields up 1.0bp at
-0.299% and Schatz yields up 0.1bp at -0.644%.
- BTP futures are up 0.29 today at 143.12 with 10y yields down -2.7bp at 1.247%
and 2y yields down -4.5bp at -0.36%.
- OAT futures are down -0.04 today at 164.24 with 10y yields up 0.5bp at 0.013%
and 2y yields down -1.3bp at -0.618%.

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