Morning trend continues this afternoon

Morning trend continued this afternoon.

• Longer end remained under pressure, following higher extension in Equities.
• German curve is bear steeper, but still short of the January peak.
• Peripheral spreads are still tighter this afternoon, with Greece still leading at 2.3bps versus the German 10yr.
• Looking ahead, Fed Kaplan and Mester are still scheduled speakers later today.
• Mar Bund futures (RX) down 48 ticks at 176.74 (L: 176.68 / H: 177.23)
• Germany: The 2-Yr yield is up 0.5bps at -0.718%, 5-Yr is up 2.1bps at -0.709%, 10-Yr is up 3.1bps at -0.485%, and 30-Yr is up 3.8bps at -0.039%.
• Mar BTP futures (IK) down 33 ticks at 151.03 (L: 150.95 / H: 151.35)
• Mar OAT futures (OA) down 40 ticks at 166.66 (L: 166.63 / H: 167.04)
• Italy / German 10-Yr spread 1bps tighter at 112.7bps
• Spanish bond spread down 1.4bps at 59.7bps
• Portuguese PGB spread down 1bps at 53.9bps
• Greek bond spread down 3bps at 115.7bps