A choppy, initial puzzling price.......>

BOND SUMMARY: A choppy, initial puzzling price action noted in Short Sterling.

-Short Sterling opened ticks

- 2 contradicting stories:

-Boris Johnson was handed a lifeline by the DUP last night when it agreed to

shift its red lines in a move that could help to unlock a Brexit deal.

But, DUP leader Arlene Foster poured some cold water on the Times piece.

-Investors are holding on the Times story, GBP are rallying, in turn keeping

Gilts under pressure.

-EGB's price action was mostly led by FX this morning, with the USD better

offered against most G10, DXY making new lows, provided a bid to the EURUSD

keeping Bunds under pressure.

-Bund saw stops below 173.00, but have faded and trading 173.00 at the time of

typing.

-Peripherals are a touch wider against the German 10yr.

-Treasuries have taken their cue from the German curve, trading lower, but flat

on the day.