/EGBs-GILTS: Core EGBs and Gilts are...>

BOND SUMMARY: /EGBs-GILTS: Core EGBs and Gilts are weaker as UK PM Johnson meets

with French counterpart Macron in Paris as we write.

- Macron sounding fairly steadfast re Backstop, reiterated `30 days` to find

`something intelligent` to resolve Brexit impasse.

- In tender earlier, DMO sold Stg500mln of the 4.25% Dec-46 Gilt.

- Core EGBs traded with heavy tone early, exacerbated by modest beats on

Eurozone nat`l flash PMIs; though Bunds bottomed upon release of EZ PMI number.

Weakness has resumed in the last 10-15 minutes.

- BTP spreads are a little tighter this morning, 10-Yr under 200bps to Bunds;

we`ve just published our Italy Politics Timeline/Scenario Guide (just ask).

- We get July ECB meeting account at 1230BST, following which the US Fed`s

Jackson Hole symposium will garner most attention. Latest futures prices:

* Sep Bund futures (RX) down 40 ticks at 178.28 (L: 178.18 / H: 178.94)

* Sep BTP futures (IK) up 9 ticks at 142.48 (L: 142.3 / H: 143.02)

* Sep OAT futures (OA) down 40 ticks at 169.86 (L: 169.85 / H: 170.49)

* Sep Gilt futures (G) down 43 ticks at 134.23 (L: 134.22 / H: 134.71)