EGB's started the day on the front.....>

BOND SUMMARY: EGB's started the day on the front foot, but quickly reversed

course, with market price action led by the "Risk On" tone throughout the day. 

-Bunds are down close to 100 ticks on the day, upside momentum in Equities

gaining further traction as the US came in. -Equity saw few China Trade deal

headlines from Mnuchin, albeit nothing really new in the narrative. 

-EU indices started to trade lower later in the afternoon, with the move more

likely order driven, following a day when stocks prices were elevated throughout

the day. 

-Treasuries took their cue from the Risk on sentiment tone today, as well as

pressure into major Global Bonds. 

-Curve play, saw a big bear steepening price action in European, US and UK long

end curve bonds.