Core EGB yields have edged up..........>

BOND SUMMARY: Core EGB yields have edged up following the ECB meeting on

Thursday.

- The 10-year US Treasury yield has edged up to 2.978% from a session low of

2.971%. Q2 GDP and the University of Michigan consumer confidence survey are up

later today.

- German bunds have sold off across the curve with the 2-year benchmark yield

trading up to -0.604% from a low of -0.6077%, the 10-year up to 0.410% from

0.400% and the 30-year up to 1.066% from 1.053%. 

- The benchmark 2-year OAT yield has pushed up to -0.425% from an intraday low

of -0.436%, while the 10-year yield trades at 0.702% from 0.694%.

- Italian BTP yields have been choppy with no clear direction. The 2s30s spread

trades at 276bps down from a high of 278bps.

- The UK Gilt curve has steepened slightly with the 2s10s spread widening to

52.5bps from the 52.1bps low and the 2s30s edging up to 97.5bps from 95.9bps.

- Euro$ futures are unchanged. The Euribor futures strip has steepened,

red-blues down 0.5ticks.