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/EGBs/Gilts: There are widespread......>

BOND SUMMARY
BOND SUMMARY: /EGBs/Gilts: There are widespread reports that UK PM Theresa May
could announce her date of departure today, with 09:30 being touted as the
likely time of an official statement. There is further speculation that the
Conservative leadership race could begin on June 10. Gilts have opened a touch
stronger this morning. Current yield levels: 2-year 0.636%, 5-year 0.706%,
10-year 0.949%, 30-year 1.515%.
- German bunds have started on a weaker footing, albeit with trading in a tight
range so far. 
- The French OAT curve has flattened with 2s10s and 2s30s ~1bp lower.
- Italian BTPs have rallied sharply and the curve has steepened as the short end
outperforms. The 2-year yield is up 7.4bp and the 2s30s spread has widened ~5bp.
- The data calendar is light today with just UK retail sales for April at
0930BST and CBI Reported Sales at 11:00 BST. 

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