/EGBs-GILTS: Bunds and Gilts are a.....>

BOND SUMMARY: /EGBs-GILTS: Bunds and Gilts are a little lower this morning,

ahead of a busy morning of issuance (and on the eve of the ECB decision).

- Estonia and Italy each syndicating 10-Yrs while E.U. selling 15-Yr, and

Germany selling EUR4bln of Bobl at auctions. Also GBP4.75bln in Gilts on offer. 

- Data focus this morning is on Services PMIs (Spain's came in a little above

expectations, Italy up at 0845BST) and German May unemployment (0855BST).

- MNI's ECB preview is due out this morning. ** Latest levels:

* Jun Bund futures (RX) down 38 ticks at 171.48 (L: 171.28 / H: 171.68)

* Germany: The 2-Yr yield is up 1.6bps at -0.637%, 5-Yr is up 2.5bps at -0.597%,

10-Yr is up 3.1bps at -0.384%, and 30-Yr is up 3.3bps at 0.098%.

* Sep Gilt futures (G) down 27 ticks at 136.65 (L: 136.53 / H: 136.69)

* UK: The 2-Yr yield is up 1.3bps at -0.012%, 5-Yr is up 1.6bps at 0.041%, 10-Yr

is up 2.3bps at 0.245%, and 30-Yr is up 2.4bps at 0.66%.

* Jun BTP futures (IK) down 1 ticks at 142.01 (L: 141.77 / H: 142.07)

* Italy / German 10-Yr spread 1.3bps tighter at 190.3bps

* Jun OAT futures (OA) down 35 ticks at 167.56 (L: 167.36 / H: 167.62)