A range bound session for Global.......>

BOND SUMMARY: A range bound session for Global EGB's, with under average volumes

and a two way price action throughout the morning European session. -EGBs remain

underpinned and are sitting in green territory, with the contracts taking their

cue from Equities, but Indices have done very little, with no clear direction. 

-Bunds and peripherals are within ranges, and this is shown in the spreads, with

Italy just 1bp tighter against the German 10 year. 

-We are seeing, similar type of range versus Portugal and Spain, trading just

half basis point tighter against the Bund. 

-Gilt, have followed suit, and are 19 ticks up on the day, with the English Bond

seen as a safer Haven contract of late. 

-Plenty of eyes are on the shorter end part of the UK curve, with the 2yr

trending onto negative yields in the past few sessions. 

-USTs have also taken their cues form EGBs, but are still only sitting flat of

the day, as we await for the US to come in. -Looking ahead, we get US Retail

Sale, Industrial production and Michigan later this afternoon. 

-Europe, Michel Barnier, is due to update us on the EU-UK trade negotiations.