/EGBs-GILTS: A choppy start for the....>

BOND SUMMARY: /EGBs-GILTS: A choppy start for the space as Thursday's risk-off

move continues to reverberate (equities remain volatile). Fairly tight ranges,

with peripheries 1-2bps wider, Bunds and Gilts close to flat on the session.

- UK Apr GDP (-20.4% M/M) hit a bit more than exp but largely seen as a

rear-view-mirror car crash; pretty light on data rest of the day (Eurozone IP).

- Weekly BOE APF purchases announcement at midday BST as usual. ECB/Belgium's

Wunsch speaks at 1200BST. ** Latest levels:

* Sep Bund futures (RX) up 5 ticks at 175.29 (L: 174.95 / H: 175.32)

* Germany: The 2-Yr yield is down 0.9bps at -0.658%, 5-Yr is down 1.4bps at

-0.646%, 10-Yr is down 1.4bps at -0.428%, and 30-Yr is down 1.9bps at 0.044%.

* Sep Gilt futures (G) down 6 ticks at 137.26 (L: 137.15 / H: 137.32)

* UK: The 2-Yr yield is down 0.4bps at -0.053%, 5-Yr is down 0.2bps at -0.01%,

10-Yr is down 0.3bps at 0.195%, and 30-Yr is down 1.3bps at 0.585%.

* Sep BTP futures (IK) down 24 ticks at 140.88 (L: 140.6 / H: 141.08)

* Italy / German 10-Yr spread 1.9bps wider at 193.2bps

* Sep OAT futures (OA) down 12 ticks at 165.87 (L: 165.65 / H: 165.89)