Bunds opened lower in response to a.....>

EGB SUMMARY: Bunds opened lower in response to a Friday post-European close

slide in prices but so far on Monday, movements have been small.

- Attracting some attention is a WSJ article entitled "Draghi is likely to lay

out end to Europe's quantitative easing" at Jackson Hole this week. The article

does not back up the headline's promise but there is little else to trade upon

today.

- After the close on Friday, Fitch upgraded the Greek debt rating from CCC with

positive outlook by two notches to B-. Despite this, the Greek debt market is

showing little in the way of yield movement today.

- Futures markets activity has been subdued so far. Unfortunately, the economic

data and supply calendar is empty apart from the usual T-bills 

- In the swap market, there was a E110mln EUR12Y5Y payer that looked like a

receiver. at just after 0800BST.

- Roll activity will build significantly this week, particularly in the Gilts

market that sees First Notice on Aug 31.

- PSPP activity might be about the only other game in town today.