News flow has been slow this morning....>

EGB SUMMARY: News flow has been slow this morning with Eurozone data taking

centre stage. Germany recorded their weakest GDP growth in 5-Yrs across Q4 with

data broadly coming in as expected. 

- This has seen Bunds rally whilst periphery EGBs have lacked direction

throughout. 

- The Mar 19 Bund future is up 21 ticks at 164.78, having traded as low as

164.38 today. 

- The Bund curve has bull flattened throughout the 2s10s section, whilst the

5s30s has traded moderately sideways. 

- The 2-Yr Bund yield is down 0.9bps at -0.605%, 5-Yr down 1.6bps at -0.381%,

10-Yr down 2.2bps at 0.209%, and 30-Yr down 1.8bps at 0.818%. 

- Italian BTPs are down 11 ticks today at 126.79, close to the bottom of their

days range of 126.74-127.11.

- The short end and belly of the BTP curve have seen yields fall, whilst

maturities of 10-yr and above have risen causing steepening across the full

length of the curve.