The European economic dataflow has......>

EGB SUMMARY: The European economic dataflow has been light again this morning.

German Chancellor Angela Merkel and French President Emmanuel Macron have met to

discuss European integration. There has been a degree of core-periphery

divergence since the open. 

- The German curve has compressed with the benchmark 2-year bund yield falling

to -0.638%, towards the bottom of the morning range. Meanwhile, the 10-year

yield has dropped to 0.363% from 0.3705% at the open, with some marginal

flattening of the curve.

- French OATS have followed a similar path. The 2-year OAT yield has traded down

to -0.565% from a session high of -0.555%, while the 10-year yield is down to

0.695% from 0.712%.

- In the periphery, Spanish and Italian yields have been edging higher. The

10-year BTP yield trades at 2.548% from a low of 2.516%, while the Spanish

equivalent is trading around the day's highs at 1.242.

- The EURIBOR futures are mixed. Whites are down 0.5 ticks, while Greens and

Blues are up 0.5-1.0 ticks.