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

EGB SUMMARY: - Yields at the short-end of the bund curve have continued to push

lower throughout the session while the longer-end has traded sideways since

mid-morning. The 10-year benchmark trades at a yield of 0.206% down from a high

of 0.235%, while the 2s10s spread has narrowed to 81.7bps from 82.8bp.

- The French OAT curve has steepened on the back of the short-end outperforming

the broader rally. The 2s30s spread has traded up to 206.5bps from 204.0bps. 

- Italian BTPs have sold off throughout the session with the 30-year benchmark

racking up the largest yield move on the day; up 5bps from the low. Earlier

today the Dipartimento del Tesoro allotted E10bln of the new 15-year benchmark

BTP through syndication.

- The sell-off at the long-end of the Spanish curve lost momentum by mid-morning

with 10- and 30-year yields now trading close to the middle of the day's range.

- Euribor futures are broadly 0.5-3.0 ticks higher with Greens/Blues

outperforming.