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EGB/Gilt: It's been a fairly quiet.....>

BOND SUMMARY: EGB/Gilt: It's been a fairly quiet start to the morning with Bund
futures and gilt futures both up 0.10 at 165.46 and 128.11 respectively.
- Weekend headlines have focus on continued progress on US-China trade talks and
more limited progress on Brexit negotiations.
- Theresa May's talks with Corbyn appear to be making little progress at present
with May also having alienated many Tory MPs by simply initiating these talks.
Last week May formally requested a Brexit extension to June 30 but reports
continue to suggest the EU will favour a longer extension, with an EU response
likely after Wednesday's summit.
- More disappointing German trade data has helped add to the marginally risk-off
tone continuing from the Asian session.
- 10y Bund yields are down 1.0bp, back below zero, to -0.038% with Schatz yields
down 0.9bp to -0.577%. Peripheral spreads have moved less than a basis point.
- There is little more of note on the European calendar today with US factory
orders this highlight.
- 10y gilt yields are unch at 1.111% with 2y yields down 0.5bp at 0.710%.

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