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/EGBs-GILTS: Better-than-expected......>

BOND SUMMARY
BOND SUMMARY: /EGBs-GILTS: Better-than-expected June PMIs are the story of the
morning, with France > 50 sinking core FI early, though slightly-above-exp
German PMIs helped them come back (as expectations were probably raised after
the France print).
- Eurozone (0900BST) and UK (0930BST) PMIs are to come.
- UK selling GBP6.25bln of Gilts; Netherlands selling 0.50% Jan-40 DSL for
EUR1.0-1.5bln and Germany re-opening Jun-22 Schatz for EUR5bln.
- BoE's Bailey speaks at 0945BST.
- ** Latest levels:
* Sep Bund futures (RX) down 33 ticks at 175.78 (L: 175.65 / H: 176.13)
* Sep Gilt futures (G) down 29 ticks at 137.07 (L: 137 / H: 137.16)
* Sep BTP futures (IK) up 31 ticks at 143.78 (L: 143.26 / H: 143.83)
* Sep OAT futures (OA) down 16 ticks at 167.32 (L: 167.15 / H: 167.4)
* Italy / German 10-Yr spread 4.3bps tighter at 168.4bps

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