- Yields at the short-end of the........>

EGB SUMMARY: - Yields at the short-end of the German bund curve have drifted

higher throughout the day, while the sell off at the longer-end lost momentum.

The curve has flattened with the 2s10s spread narrowing to 92.2bps from a high

of 83.7bps and the 2s30s trading down to 141.8bps from 145.8bps.

- French OATs have traced out a similar path during the session with the curve

3-5bps flatter on the day.

- Having rallied sharply in the morning, Italian BTPs have traded sideways

through the afternoon. The short-end has outperformed the curve with the 3-year

benchmark yield pushing down to 1.436% from 1.578%. 

- The benchmark Spanish 10-year government bond has underperformed with the

2s10s spread widening to 161.8bps from a low of 159.9bps.

- Euribor futures are flat/0.5 ticks lower in whites and flat/0.5 ticks higher

in greens.

- Next up on the data calendar will be the German ZEW survey estimates for

December, which will be published tomorrow.