News Headline Summary

The Italian 10-yr Bund yield spread is now tighter on the day by around 2BPS after opening as wide as 4BPS, following the better Services PMI data so far from the likes of Spain, Ireland and Sweden

Update details:

- The financials sector was heavily weighed in yesterday's session given the investigation into Italian bank Monte Paschi which also had an adverse effect on other banks in Italy. This morning a recovery is being observed in the sector, financials now up 0.57%.

- Next focus point will be on the Italian Services PMI reading for Jan Exp. 45.8 (Prev. 45.6) due at 0843GMT.

Print 08:38, 05 Feb 2013 - Fixed Income - Source: RANsquawk