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Tutti Frutti A range bound session.....>

EGB SUMMARY
EGB SUMMARY: Tutti Frutti 
A range bound session for most EGB's, but once again the BTP is the standout
contract, up over 60 ticks, while the German Bund sits in the red, 10 ticks
down. 
-Plenty of questions and plenty of reasons, regarding the sell off, this past
weeks. 
-BTP were mainly driven by positioning rather than risk events., and the past 2
days has seen some real pick up in volume and unwind, buying BTPs vs Bunds. 
-Peripherals, this afternoon are trading tighter, with no surprises in guessing
which peripheral bond is outperforming - the BTP at 10bps on the German/Italian
spread. 
- Bund futures are down -0.09 today at 170.90 with BTP futures up 0.68 at 141.45
and OAT futures up 0.06 at 167.31.

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