/EGBs-GILTS: Bunds have retraced.......>

BOND SUMMARY: /EGBs-GILTS: Bunds have retraced late Friday's gains in the early

going Monday, with Gilts also on the back foot. Periphery EGBs mixed.

- Data and central bank speakers are the main focus to start the week.

- German state inflation data coming through (Saxony 'beat', nat'l at 1300BST),

with UK consumer credit at 0930BST and Eurozone conf at 1000BST. Spain flash Jun

CPI came in above expectations (M/M 0.5% vs 0.2% exp).

- We get BoE Gov Bailey speaking at 1030BST (though at a climate change forum);

Vlieghe at 1330BST. ECB's Makhlouf at 1300BST. ** Latest levels:

* Sep Bund futures (RX) down 12 ticks at 176.58 (L: 176.47 / H: 176.86)

* Sep Gilt futures (G) down 9 ticks at 137.49 (L: 137.32 / H: 137.5)

* Sep BTP futures (IK) down 13 ticks at 143.32 (L: 143.1 / H: 143.51)

* Italy / German 10-Yr spread 0.6bps tighter at 176.8bps

* Sep OAT futures (OA) down 17 ticks at 167.54 (L: 167.44 / H: 167.64)