EGB/Gilt: It has been a quiet start....>

BOND SUMMARY: EGB/Gilt: It has been a quiet start to the European morning

session with a mildly risk-on sentiment helping peripheral spreads but only

seeing small moves lower in core bond yields.

- Headlines this morning from Tusk have said that the EU can make changes to the

political declaration but no reopening of the Brexit deal is possible.

- Data this morning includes the UK labour market report and the German ZEW

while the main supply is focused on the Dutch Jul-29 and gilt Sep-37 auctions.

- Gilt futures are up 0.05 today at 126.90 with 10y yields down -0.3bp at 1.216%

and 2y yields unch at 0.781%.

- Bund futures are down -0.02 today at 164.64 with 10y Bund yields up 0.1bp at

0.056% and Schatz yields down -0.3bp at -0.570%.

- BTP futures are up 0.12 today at 130.39 with 10y yields down -2.2bp at 2.555%

and 2y yields down -1.5bp at 0.451%.

- OAT futures are up 0.05 today at 161.25 with 10y yields down -0.3bp at 0.415%

and 2y yields down -0.3bp at -0.505%.

- Other EGB peripheral spreads to Bunds are little changed.