EGB's have been better big throughout...>

EGB SUMMARY: EGB's have been better big throughout the London afternoon session,

going into the awaited Fed.

- Bund are trading within ranges, but mostly around the -0.50% in yields.

-US afternoon data were on the light side and very little spill overs were noted

into Treasuries, and in turn EGB's.

-BTP have edged higher inline with Bunds, Gilts and Treasuries, with the

contract up 50 ticks on the day, printing a 145.09 high and yields at 0.874 for

the latter.

-ALL EYES are on the FOMC, with plenty of discussions following the latest

funding story this week.

-A tricky communications job for the FOMC got a little trickier this week. Much

of the market's focus has swiftly turned from monetary policy to the

transmission of that policy - and how the Fed intends to mend a creaking system,

especially given the recent impact of dislocations on the Fed funds effective

rate.