/EGBs-GILTS CASH CLOSE: BTPs continue to......>

BONDS: /EGBs-GILTS CASH CLOSE: BTPs continue to impress as their spreads

compress, with the market still digesting the EU recovery fund deal. 10-Yr BTP

yields traded below 1% for the first time since March.

- The rest of the periphery enjoyed a rally too, Greece leading.

- Conversely, Gilt yields had largely been trending lower through most of the

session but moved higher after a low offer-to-cover ratio on the BOE's

long-dated APF purchases. Bunds finished fairly flat. ** Closing levels:

* Germany: The 2-Yr yield is up 1.5bps at -0.671%, 5-Yr is up 1.9bps at -0.67%,

10-Yr is up 0.9bps at -0.481%, and 30-Yr is up 0.3bps at -0.058%.

* UK: The 2-Yr yield is up 1.2bps at -0.096%, 5-Yr is up 0.3bps at -0.111%,

10-Yr is up 0.4bps at 0.124%, and 30-Yr is up 1.1bps at 0.639%.

** 10-Yr Periphery EGB Spreads:

* Italian BTP spread down 6.1bps at 146.5bps

* Spanish bond spread down 2bps at 80.4bps

* Portuguese PGB spread down 2.9bps at 80.7bps

* Greek bond spread down 6.6bps at 155.4bps