A pretty dull start for EGB's today.....>

EGB SUMMARY: A pretty dull start for EGB's today.

-Despite, fairly wide ranges in EGB's, turnovers have been way below averages.

-Bond were better offered and sold on the open, on the back of a very odd move

in Australian 10yr Bond, triggering a decent spike in the 10 yr yields, from

0.96% to 1.0178%.

-Suggestion, that someone got caught long pre hedging. Buying never happened, so

had to drop their duration into the close, may have been the reason for the

strange price action.

-Bund printed a 173.77 low led by Australia and a better underlying bid in

European and US indices. But have since recovered and sitting just 15 ticks down

on the day.

-Peripherals are flat to 0.3bps wider against the German 10yr, so very little to

report there.

-Looking ahead, we have nothing of note for this afternoon, and price action

will likely remain subdued, as Investors and market participants gear up for

another busy week.