Concerns about the UK election.........>

BOND SUMMARY: Concerns about the UK election outcome have led to a deterioration

in risk appetite, putting core bonds on the front foot led by gilts.

- The Kantar poll published this morning showed that the Tory lead over Labour

is beginning to shrink, reducing the probability that the Conservatives will win

a majority. GBP FX initially sold off before gilts moved higher, USTs and Bunds

then followed before equities started to trade heavier on the day.

- The economic data calendar is very quiet today and the only Fed speaker

scheduled is Brainard who will discuss the policy framework review.

- TY1 futures are up 0-3 today at 129-19+ with 10y UST yields down -1.0bp at

1.746% and 2y yields down -1.2bp at 1.591%.

- Bund futures are up 0.10 today at 171.19 with 10y Bund yields down -1.1bp at

-0.361% and Schatz yields down -0.7bp at -0.641%.

- Gilt futures are up 0.34 today at 132.46 with 10y yields down -3.5bp at 0.659%

and 2y yields down -2.0bp at 0.493%.