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- Slight steepening of the US..........>

BOND SUMMARY
BOND SUMMARY: - Slight steepening of the US treasury curve. The 2s30s spread has
widened to 36.1bps from 35.1bps. The benchmark 10-year US treasury trades at
2.8297% up from 2.802%.
- JGB yields have ticked higher. The 2-year currently trades at -0.121% and the
10-year at 0.095%.
- Modest rally in German bunds across the curve. The 2-year bund yield trades at
-0.605% down from -0.598% and the 10-year down to 0.340% from 0.349%. The curve
is flat on the day.
- French OATs have similarly rallied. Key levels: 2-year -0.443%, 5-year 0.011%,
10-year 0.673%, 30-year 1.561%.
- Italian BTPs have sold off this morning. The 2-year yield has pushed up to
1.178% from 1.097%, while the 10-year is up to 3.114% from 3.067%.
- Gilt yields tick lower and continue to trade in a relatively tight range.
- EURIBOR futures are flat. Euro$ futures are down 0.5-2.0 ticks.

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