EGB?GILT SUMMARY: Very little to add....>

EGB SUMMARY: EGB?GILT SUMMARY: Very little to add from our Global Bond summary. 

-Bund started the day under pressure, with stops triggered around and below

174.00. The contract is now back in green territory and could potentially test

the high of the day situated at 174.52. Bund is at 174.44 at the time of

writing. 

-Main colour and flow for EGB's has been more downside Option trade initiated in

October and November expiry, These are targeting a more Hawkish ECB. 

-Curve play on vogue of Bear steepening has kept the trend in the German curve..

-Peripheral have been fairly subdued and price action have taken their cue from

the Bund in early trading. 

-Gilts are stable within ranges, the stronger UK AWE provided some sell off post

data, but we have since settled back to stable levels. Gilts are 13 ticks up on

the day. 

- Bund futures are up 0.24 today at 174.48 with BTP futures up 0.26 at 144.34

and OAT futures up 0.22 at 170.29.