Periphery EGBs (led by Greece) are......>

EGB SUMMARY: Periphery EGBs (led by Greece) are stronger, while core instruments

have recovered earlier losses on a fairly quiet post-ECB Thursday so far.

- Jun Bund futures (RX) down 8 ticks at 165.81 (fairly narrow trading range - L:

165.65 / H: 165.87)

- The 2-Yr German yield is unchanged at -0.588%, 5-Yr is up 0.2bps at -0.438%,

10-Yr is unchanged at -0.026%, and 30-Yr is down 0.6bps at 0.618%.

- The IMF reaffirmed Wednesday that Greece would be able to meet its primary

surplus targets out to 2022. GGBs leading the periphery pack, spread of 10-Yr

Greek bonds vs Bunds is is down 7.3bps at 337.2bps. 

- Other spreads tighter too: Italy down 1bps, Spain/Portugal down about 2bps.

- Italy and Spain concluded EGB issuance for the week with solid auctions, Italy

notably selling BTPs at top of E6.25-7.75bln range.

- ECB Survey of Professional Forecasters for Q2 showed expectations of lower

headline and core inflation forecasts (by 0.1% in each of 2019, 2020).

- ECB's Villeroy, Visco and Knot appear in Washington later for IMF Meetings.