A modest risk-on tone to begin the.....>

BOND SUMMARY: A modest risk-on tone to begin the week of European trading. Main

data events of note are final PMIs for Italy (0845GMT), France (0850GMT),

Germany (0855GMT) and the Eurozone (0900GMT), following on from poor Spanish PMI

figures earlier.

- New ECB President Lagarde speaks in Berlin at 1930GMT.

- Latest levels:

* Dec Bund futures (RX) down 33 ticks at 171.09 (L: 170.98 / H: 171.47)

* Germany: The 2-Yr yield is up 0.5bps at -0.651%, 5-Yr is up 0.8bps at -0.605%,

10-Yr is up 2.4bps at -0.358%, and 30-Yr is up 3.4bps at 0.181%.

* Dec Gilt futures (G) down 34 ticks at 131.96 (L: 131.87 / H: 132.32)

* UK: The 2-Yr yield is up 2bps at 0.541%, 5-Yr is up 2.8bps at 0.491%, 10-Yr is

up 3.8bps at 0.701%, and 30-Yr is up 3.6bps at 1.201%.

* Dec BTP futures (IK) down 29 ticks at 143.51 (L: 143.25 / H: 143.75)

* Italy / German 10-Yr spread 0.2bps tighter at 137.3bps

* Dec OAT futures (OA) down 38 ticks at 167.54 (L: 167.39 / H: 167.92)