Not much to see so far in EGBs Weds,....>

EGB SUMMARY: Not much to see so far in EGBs Weds, though ECB speakers lie ahead.

- The Dec 18 Bund future is up 7 ticks at 161.09, the 2-Yr yield is down 0.5bps

at -0.586%, 5-Yr is down 1bps at -0.246%, 10-Yr is down 1.1bps at 0.339%, and

30-Yr is down 0.9bps at 1.01%.

- Italian yields steady; little sustained reaction from Tuesday's late BBG

report that the EU would soften the capital blow for banks that sell NPLs at a

loss. Repubblica reported Weds that Deputy PMs Salvini and Di Maio are involved

in EU discussions, with some possible reshuffling of the budget.

- The Dec 18 BTP future is down 2 ticks at 123.61, having traded in a range of

123.31-123.75. 2-Yr yield is up 1.1bps at 0.876%, 10-Yr is unchanged at 3.289%.

- Spain, Portugal, Greece spreads trading mixed (up/down 1-2bps).

- EGB Z8-H9 futures rolls are picking up pace; data later today will confirm but

we estimate that Bund roll is 16% complete, BTP 20%, OAT 22%.

- Euribor futures are a little higher, 0.5-1.0 ticks up across the strip.

- ECB M3 data at 0900GMT - MNI median points to y/y growth of 3.6% in October.

- Plenty of ECB speakers today, including Coeure, Guindos, and Praet.