European FI has sold off early on......>

BOND SUMMARY: European FI has sold off early on news that China and the US have

agreed to remove some tariffs phase by phase and that some tariffs will be

removed in phase 1 deal.

- A smattering of data (German IP missed exp)., but main event is Bank of

England decision (no change exp.; contact us for full MNI preview).

- France (up to E10.0bln) and Spain (up to E4.25bln) supply later this morning.

** Latest levels:

* Dec Bund futures (RX) down 9 ticks at 170.58 (L: 170.38 / H: 170.97)

* Germany: The 2-Yr yield is up 1.3bps at -0.624%, 5-Yr is up 0.9bps at -0.572%,

10-Yr is up 1.3bps at -0.32%, and 30-Yr is up 1.8bps at 0.215%.

* Dec Gilt futures (G) down 1 ticks at 131.61 (L: 131.52 / H: 131.69)

* UK: The 2-Yr yield is up 2.5bps at 0.563%, 5-Yr is up 1.4bps at 0.516%, 10-Yr

is up 1.6bps at 0.731%, and 30-Yr is up 2.2bps at 1.254%.

* Dec BTP futures (IK) up 32 ticks at 143.79 (L: 143.52 / H: 143.93)

* Italy / German 10-Yr spread 1.8bps tighter at 131.8bps

* Dec OAT futures (OA) down 8 ticks at 167.3 (L: 167.15 / H: 167.66)