Bunds have been outperforming both......>

EGB SUMMARY: Bunds have been outperforming both USTs and gilts today, with gilts

and Bunds both seeing decent rises in yields on the day but Bund yields hitting

record lows once again.

- There has been little in the way of headlines driving markets today but

anticipation of aggressive ECB easing in the light of further deterioration in

global trade conditions appear to be helping Bunds move higher.

- Bund futures are up 0.24 today at 176.46 with 10y Bund yields down -1.2bp at

-0.529% and Schatz yields down -0.1bp at -0.818%.

- BTP futures are up 0.63 today at 140.29 with 10y yields down -6.4bp at 1.500%

and 2y yields down -4.6bp at -0.24%.

- OAT futures are up 0.35 today at 168.27 with 10y yields down -2.2bp at -0.261%

and 2y yields up 0.7bp at -0.731%.