The early rally in BTPs this morning....>

EGB SUMMARY: The early rally in BTPs this morning lost momentum before 9am and

they are now in red for the day. 

- The Mar-19 BTP future is down 11 ticks at 125.38, having earlier traded as

high as 125.77 today. 

- The sell off is most prevalent in the belly of the curve; the 5-yr yield is up

1.1bps at 2.018%. 

- Elsewhere across the curve the 2-Yr yield is up 0.1bps at 0.559%, 10-Yr up

0.9bps at 2.948%, and 30-Yr up 0.8bps at 3.595%.  

- The Mar-19 Bund future has made gains this morning, trading up 7 ticks at

163.27 having traded in a range of 163.04-163.29. 

- The 2s10s Bund spread has flattened marginally by 0.1bps, the 2-Yr yield down

0.2bps at -0.612% with the 10-Yr yield down 0.3bps at 0.249%. 

- In the belly of the Bund curve the 5-yr has underperformed, it's yield

unchanged today at -0.303%. 

- Elsewhere the Greek 10-yr spread Vs Bunds has widened by 4.7bps to 404bps.

- ECB speakers are sparse this week as data will take centre stage.