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- Short-end bund yields have pushed.....>

EGB SUMMARY: - Short-end bund yields have pushed higher throughout the session
while the longer-end sell-off resumed from 1330GMT. The 10-year yield trades at
0.236% up from a low of 0.203%, while the 30-year trades at 0.843% up from
0.819%. The curve has steepened with 2s30s trading up to 143.2bps from 141.8bps.
- The French OAT curve has similarly steepened slightly with 2s10s and 2s30s
widening 1-2bps.
- BTP spreads over bunds continues to narrow on the back of Italian government
bonds yields pushing lower. The 5-year BTP has outperformed the curve, with the
yield down 2.0bps on the day.
- The sell-off in Spanish government bonds petered out by late morning while
yields at the longer end have trended lower. The curve is 2-3bps flatter.
- The Euribor futures strip has steepened with whites flat and greens/blues down
1.0-1.5 ticks.    

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