EGB/GILT SUMMARY: European bonds are in.......>

BONDS: EGB/GILT SUMMARY: European bonds are in risk-off mode thus far Friday,

with the main event set to be ECB Pres Draghi's comments this afternoon.

- Mar 19 Gilts up 35 ticks at 124.06, while Bunds are up 30 ticks at 166.37.

- Gilts being boosted by continued negative newsflow on the Brexit front, with

BBG citing a UK 'official' that the meaningful Withdrawal bill vote is 'very

unlikely' to be held next week.

- Perhaps needless to say, an EU 'official' told BBG that this Sunday's Egypt

summit will not see a Brexit deal reached.

- 10-Yr Gilt leading the rally, yield down 3.1bps at 1.171%.

- Bunds a little stronger (10-Yr yield down 1.7bps at 0.11%), with poor Feb IFO

survey data possibly contributing.

- Ahead of Fitch's ratings review of Italy this evening, a sizeable move higher

in BTP spreads vs Bunds, 10-Yr 7bps wider at 277.6bps.

- ECB's Villeroy speaking at 1500GMT; Draghi is up at 1615GMT.