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The Bund contract opened just 2 ticks...>

EGB SUMMARY
EGB SUMMARY: The Bund contract opened just 2 ticks lower and has traded in a
narrow range since. There is a small bid in the 10Y area of the peripheral
market, led by Spain. 
- Currently, the 10Y Bund yield is unchanged at 0.633%. 10Y Bund-BTP, Bund-Bonos
and Bund-PGB spreads are each around 1bp tighter today.
- The 3Y and 10Y UST auctions were each taken down well.
- Auctions are intense in Europe of the coming 3 days, with approx E30bln being
sold. Starts with 10Y DSL and Italian 3Y, 7Y, 15Y and 30Y. There are no
market-moving European data events today. 
- Headline today will be the February US CPI release, which comes on the back of
a surprisingly strong print in January.

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