Off their worst levels

EGBs trade in the red this afternoon, but off their worst levels, after Equities reverse all of the overnight gains.

• German curve is bear steeper, but off its steepest level at the time of typing.
• Peripheral spreads are tighter, with Italy leading at 3.3bps.
• Italian 10yr yield is now off the 1% initial resistance, at 0.934%.
• Looking ahead, US Fed Evans (Voter, leaning Dove), will discuss Economic outlook.
• Jun Bund futures (RX) down 22 ticks at 170.25 (L: 169.97 / H: 170.32)
• Germany: The 2-Yr yield is down 0.1bps at -0.687%, 5-Yr is down 0.3bps at -0.59%, 10-Yr is up 0.4bps at -0.211%, and 30-Yr is up 0.7bps at 0.358%
• Jun BTP futures (IK) up 25 ticks at 146.93 (L: 146.35 / H: 146.98)
• Jun OAT futures (OA) down 11 ticks at 160.47 (L: 160.15 / H: 160.53)
• Italian BTP spread down 3.3bps at 114.7bps
• Spanish bond spread down 1.8bps at 68.4bps
• Portuguese PGB spread down 2.2bps at 69.8bps
• Greek bond spread down 1.7bps at 119.9bps