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EGBs/Gilts: This morning's UK CPI......>

BOND SUMMARY: EGBs/Gilts: This morning's UK CPI data for November surprised
slightly higher (1.5% Y/Y vs 1.4% survey, Core in line at 1.7% Y/Y).
- Focus now shifts to the BoE meeting tomorrow. No change in policy is expected,
but the policy statement will be scrutinised to gauge how the MPC has
interpreted recent policy developments. 
- Gilts have rallied with yields 1-2bp lower. Current yield levels: 2-year
0.514%, 5-year 0.552%, 10-year 0.749%, 30-year 1.259%.
- EGBs have traded mixed this morning.
- German bunds trade close to flat on the day. Current yield levels: 2-year
-0.646%, 5-year -0.550%, 10-year -0.290%, 0.2196%.
- Italian BTPs have rallied with yields 2-4bp lower on the day. The very long
end of the curve has outperformed.   
- The 50-year SPGB benchmark has similarly outperformed the rest of the curve.

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