EGB/GILTS SUMMARY: PMI dazed. -All....>

BOND SUMMARY: EGB/GILTS SUMMARY: PMI dazed. 

-All about National PMIs this morning, and a broadbase miss across the French,

German, UK and a mixed bag for EC PMIs. 

-In turn, this has kept Govies better bid, albeit with Bund stuck in a 42 ticks

range. 

-Beside the tight-ish ranges, volumes have actually been decent, with the German

10yr turnovers running at 143% of the 10d averages. 

-Gilts have been better bid, with the contract taking its cue from the lower GBP

and UK PMI miss. 

-Looking ahead, sees US PMIs, as the data of note. -This week sees plenty of

Central Banks, but would still expect range bound price action going into year

end. 

-Potential risk are more towards China trade headlines, as the street awaits

more conclusive details on the US-China agreement. "The Devil in the detail"