- 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.