/EGBs-GILTS CASH CLOSE: A fairly........>

EGB SUMMARY: /EGBs-GILTS CASH CLOSE: A fairly directionless day for Bunds and

Gilts, with yields dipping in early European trading before a move higher then

lower again in the afternoon. Gilt yields finished lower but only because of the

Eurozone holiday Friday stopping price action; Bund yields a bit higher.

- BTP spreads narrowed most of the day, going a little wider into cash close.

Peripheries mixed overall though, with Portugal/Spain wider on the day.

* Germany: The 2-Yr yield is up 1bps at -0.75%, 5-Yr is up 1.8bps at -0.744%,

10-Yr is up 3.2bps at -0.554%, and 30-Yr is up 5.6bps at -0.121%.

* UK: The 2-Yr yield is down 0.3bps at 0.038%, 5-Yr is down 0.6bps at 0.098%,

10-Yr is down 0.9bps at 0.239%, and 30-Yr is down 1.9bps at 0.58%.

Periphery EGB spreads mixed:

* 10-Yr Italian BTPs vs Bunds is down 1.9bps at 233bps

* 10-Yr Spanish bonds vs Bunds is is up 1.3bps at 132.2bps

* 10-Yr Portuguese PGBs vs Bunds is is up 2.2bps at 142.5bps

* 10-Yr Greek bonds vs Bunds is is down 1.4bps at 273.7bps