- Following yesterday's FOMC...........>

BOND SUMMARY: - Following yesterday's FOMC meeting, the US TSY curve has

flattened with the 2s30s spread narrowing to 30.8bps from a high of 34.2bps.

- The Mar 19 JGB future trades at 152.57, in the middle of the day's range.

- The early morning rally in German bunds quickly reversed, with yields pushing

higher across the curve. The 2-year trades at -0.606% up from a low of -0.621%,

while the 10-year trades at 0.234% up from 0.202%.

- Having appeared to break the impasse over the government's contentious 2019

budget, Italian BTPs continue to rally. The 2-year yield has pushed down to

0.417% from 0.497% with the 2s30s widening to 309.9bps from 302.7bps.

- Gilts have sold off since the open and the curve has steepened slightly.

Yields are broadly 5-6bps higher. 

- Euro$ futures are 0.5-1.0 ticks lower in whites and 1.0-2.0 ticks higher

across the rest of the strip. The Euribor futures strip has flattened with

whites/reds broadly flat and greens/blues 1.0-2.0 ticks higher.