Bunds have moved higher due to a risk...>

EGB SUMMARY: Bunds have moved higher due to a risk off sentiment across core

fixed income markets, moving in line with gilts but underperforming Treasuries.

- Despite the moves lower in fixed income, spreads have tightened across most

peripherals and also notably for France following today's auction.

- The ECB Accounts today had little market impact but had a cautiously slightly

upbeat tone overall.

- Bund futures are up 0.24 today at 174.90 with 10y Bund yields down -1.6bp at

-0.436% and Schatz yields up 0.3bp at -0.646%.

- BTP futures are up 0.16 today at 148.02 with 10y yields down -3.4bp at 0.917%

and 2y yields down -2.9bp at -0.219%.

- OAT futures are up 0.30 today at 167.52 with 10y yields down -2.5bp at -0.210%

and 2y yields down -1.1bp at -0.627%.