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- The sell off in German bunds from.....>

EGB OPTIONS
EGB OPTIONS: - The sell off in German bunds from 1300BST has reversed. The
10-year benchmark trades at a yield of 0.564% up from a low of 0.5299%. The
curve has steepened throughout the day with the 2s10s spread pushing up to
108.4bps from 105.4bps.
- French OATs similarly hit a bout of selling between 1300-1400BST which
subsequently reversed. Longer end yields have broadly drifted higher across the
session. The 10-year yield has edged up to 0.912% from 0.876% and the 30-year is
up to 1.744% from 1.713%.
- BTPs have rallied hard since the morning session with the 2-year benchmark
trading at a yield of 1.355% down from 1.534%.
- Price action of Spanish bonds has been comparatively tame. The 2s10s has
widened 6bps on the day.
- The Euribor futures strip is down 1.0-3.0 ticks.

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