EGB/GILT SUMMARY: A mixed, but quite...>

BOND SUMMARY: EGB/GILT SUMMARY: A mixed, but quite choppy trading session this

afternoon. 

-Despite the non event ECB and Draghi presser was, Bund saw betting selling led

by the US Treasuries and the Bear steepening noted during the afternoon session.

-The sell off was short lived, with the market brushing the beat in US PMI, and

Global Govies recovering from their worst levels and back to pre ECB and the US

durable Goods at 13.30BST. 

-Gilts took their cue from the Pound, with the currency coming under pressure,

on the back of broad base better USD selling, in turn keeping Gilt elevated. 

-Peripherals have also seen a two way flow, and spread are close to open level

with Italy best performer at 2bps tighter on the day. 

- Bund futures are up 0.12 today at 171.79 with BTP futures up 0.36 at 144.79

and OAT futures up 0.23 at 168.46. 

- Gilt futures are up 0.43 today at 132.61 with 10y yields down -4.7bp at 0.636%

and 2y yields down -4.3bp at 0.482%.