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Periphery EGBs have continued to sell...>

EGB SUMMARY
EGB SUMMARY: Periphery EGBs have continued to sell off today whilst early gains
made by Bunds have been retraced after low demand for their new benchmark 5yr
Bobl saw it go technically uncovered (0.96x, Buba cover 1.2x). 
- French ambassador for international investment has expressed that he "thinks
it (Brexit) will be postponed" as EU leaders have made clear that they are open
to negations to push back Brexit day, but the EU will not want a date later than
Jun 1st when there will be a new European Parliament.
- The Mar-19 Bund future is at the bottom of it's days range down 3 ticks at
164.44, having previously traded as high as 164.77. 
- The Mar-19 BTP future is down 17 ticks at 127.74, in the middle of days range.
- The belly of the BTP curve has underperformed today, causing bear steepening
in the 2s5s and bear flattening in the 5s10s. 
- Spanish bonds continue to be strong after yesterday's syndication, 10yr SPGB
spread Vs Bunds is down 1.63bps at 108.2bps.   
- January consumer confidence flash for the Eurozone is due today at 1500GMT.   

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