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EGBs/GILTS: This morning's European....>

BOND SUMMARY
BOND SUMMARY: EGBs/GILTS: This morning's European PMI data for December showed
signs of improvement, but overall weakness in the manufacturing sector persists.
- According to 85 leading economists who took part in the FT's annual survey, UK
economic growth will show little or no improvement this year as Brexit
uncertainties persist.
- Fresh monetary easing from China has buoyed global equities. 
- Gilts have traded weaker this morning, with the short-end underperforming. The
2-year benchmark yield is up 3bp.
- Bunds are trading mixed. Current yield levels: 2-year -0.599%, 5-year -0.480%,
10-year -0.193%, 30-year 0.340%.
- The French OAT curve has flattened with the 2s10s spread now 3bp narrower on
the day. 
- The early morning sell-off in BTPs has abated, albeit with yields still up
3-4bp.

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