EGB/Gilt: There has been somewhat of...>

BOND SUMMARY: EGB/Gilt: There has been somewhat of a decoupling between equities

and FI this morning with equities moving higher most of the morning, but Bunds

also on the march higher. Gilts are barely changed on the day while BTPs have

pared their losses to move higher on the day. A similar move to BTPs has been

seen across other peripherals leaving spreads a bit narrower on the day.

- There has been little on the calendar of note this morning, although Belgium

announced that it was increased OLO issuance this year from EUR30bln to

EUR45.35bln while Eurozone CPIU was unrevised from the flash estimate.

- The Bank of England is due to announce its purchases for next week at midday

UK time, with another GBP13.5bln of buybacks expected next week. Next week will

see the UK DMO announce its updated remit for fiscal 2020/21.

- Gilt futures are up 0.05 today at 136.98 with 10y yields down -0.9bp at 0.291%

and 2y yields up 0.7bp at 0.067%.

- Bund futures are up 0.20 at 172.87 with 10y Bund yields down -1.3bp at -0.489%

and Schatz yields down -0.6bp at -0.707%. BTP futures are up 0.95 at 138.40 with

10y yields down -8.1bp at 1.749% and 2y yields down -11.7bp at 0.849%.