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Peter Chatwell and Antoine Bouvet at Mizuho....>

EGBS
EGBS: Peter Chatwell and Antoine Bouvet at Mizuho look forward to today's EGB
trading session "With the majority of month-end flows, including index
extension, likely to have been carried out in the past few days, we think the
sharp flattening of EGB curves could take a breather this morning"
- With Spanish and French auctions today "the combination of auction selling and
the removal of a predictable buyer in the form of month-end flows indicates more
losses for EGBs today"

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