Following yesterday's FOMC meeting,....>

BOND SUMMARY: Following yesterday's FOMC meeting, TY1 hit its highest level of

the week as the Fed dots effectively confirmed there would be no further changes

in rates through 2020. However, some of this move has been reversed through the

Asian and early European sessions.

- Gilts have gradually been grinding higher through the morning on election day

in the UK. The MRP poll a couple of days ago showed that the Tories are on

course for a majority but that the risk of a hung parliament had increased -

these concerns seem to be helping gilts today with betting odds showing money on

a hung parliament has increased.

- Bunds dipped shortly after the cash open, but have since stabilised. The focus

will be on the ECB press conference today, Lagarde's first as President. Little

is expected in the way of new policy with modest revisions to the staff

macroeconomic forecasts expected. There will be a lot of focus on the change in

focus and the likely announcement of the strategic review.

- TY1 futures are down -0-3+ today at 129-05+ with Bund futures up 0.11 at

172.74 and Gilt futures up 0.33 at 132.17.