EGBs/GILTs: It has been an.............>

BOND SUMMARY: EGBs/GILTs: It has been an uneventful start to the week so far

with a light data calendar and news headlines thin on the ground.

- Core European govvies have sold off slightly.

- Markets are digesting the implications of an interview with UK Chancellor of

the Exchequer Sajid Javid over the weekend in which he argued that British firms

should prepare for divergence with EU rules. 

- Gilts have led the charge with yields up 1-2bp across the curve. Current

yields: 2-year 0.424%, 5-year 0.427%, 10-year 0.647%, 30-year 1.177%.  

- German bunds and French OATs trade marginally weaker on the day.

- BTPs have rallied with yields slightly lower. Current yield levels: 2-year

-0.023%, 5-year 0.698%, 10-year 1.362%, 30-year 2.424%.

- Focus this week is on the upcoming ECB meeting, with particular attention paid

to any additional details on the planned strategic review of monetary policy.