/EGBs-GILTS: A weak start for Bunds....>

BOND SUMMARY: /EGBs-GILTS: A weak start for Bunds and Gilts albeit in a limited

range, with periphery EGBs not showing much direction so far.

- Little on the calendar today either, apart from the European Council summit

(beginning 0900BST/1000CET); not much expected out of it as negotiations on the

recovery plan are expected to pick up next week, with a deal eyed in July.

- UK data the highlight: Retail Sales rebounded to 12.0% M/M in May, beating

market forecasts; May public sector borrowing higher than exp. ** Latest levels:

* Sep Bund futures (RX) down 15 ticks at 175.44 (L: 175.42 / H: 175.69)

* Germany: The 2-Yr yield is down 0.2bps at -0.653%, 5-Yr is up 0.4bps at

-0.634%, 10-Yr is up 0.7bps at -0.4%, and 30-Yr is up 0.9bps at 0.029%.

* Sep Gilt futures (G) down 23 ticks at 136.7 (L: 136.65 / H: 136.87)

* UK: The 2-Yr yield is up 1.4bps at -0.021%, 5-Yr is up 1.6bps at 0.025%, 10-Yr

is up 1.6bps at 0.244%, and 30-Yr is up 2.4bps at 0.703%.

* Sep BTP futures (IK) down 14 ticks at 142.32 (L: 142.28 / H: 142.52)

* Italy / German 10-Yr spread 0.1bps wider at 178.7bps

* Sep OAT futures (OA) down 20 ticks at 166.66 (L: 166.64 / H: 166.93)