After a quiet Asian session,...........>

BOND SUMMARY: After a quiet Asian session, dominated by holidays in the region,

core bonds have moved higher this morning. These moves are largely a retracement

of the sell-off we saw into the close on Friday and have a risk-off feel to

them.

- The risk-off sentiment is being driven by several factors including the

Argentinian election which saw former president Kirchner defeat the more

market-friendly Fernandez by a wider margin than expected. Tensions in Hong Kong

have also continued to worsen with the Global Times tweeting that the People's

Armed Police have "been assembling in Shenzhen in advance of apparent

large-scale exercises."

- BTPs have had a bit of a bumpy day this morning. After initially opening

higher on the relief of Fitch not downgrading Italy on Friday, BTPs have

reversed some of their gains as Salvini is said to be escalating his push for a

no confidence vote.

- TY1 futures are up 0-11+ today at 130-01+ with Bund futures up 0.21 at 177.37,

BTP futures up 0.62 at 137.66 and Gilt futures up 0.05 at 134.33.