/EGBs-GILTS CASH CLOSE: A very choppy last....>

BONDS: /EGBs-GILTS CASH CLOSE: A very choppy last few hours in cash trading,

with periphery spreads and Bunds/Gilts alike finishing relatively unchanged from

midafternoon levels despite big swings on no apparent catalyst.

- Curves swiftly erased steepening in Germany and the UK (2s30s for both going

flatter on the day right at the close).

* Germany: The 2-Yr yield is down 1.2bps at -0.746%, 5-Yr is down 0.8bps at

-0.74%, 10-Yr is down 0.4bps at -0.534%, and 30-Yr is down 0.5bps at -0.1%.

* UK: The 2-Yr yield is up 0.4bps at -0.027%, 5-Yr is up 0.5bps at 0.052%, 10-Yr

is unchanged at 0.208%, and 30-Yr is up 0.5bps at 0.586%.

** 10-Yr EGB Periphery Spreads to Bunds:

* Italy / German 10-Yr spread 2.8bps wider at 236bps

* Spain / German 10-Yr spread 1.1bps wider at 127.6bps

* Portugal / German 10-Yr spread 3.4bps wider at 140.3bps

* Greece / German 10-Yr spread 2.6bps tighter at 260.6bps