German FI futures trade a touch below.........>

BUNDS: German FI futures trade a touch below settlement levels ahead of European

hours, albeit off their overnight lows. Schatz -0.5 tick, Bobls -1.0 tick, Bunds

-5 ticks. Wednesday saw the space pressured by the broader risk-on flows that

were evident, with strong EZ services & composite PMIs adding fresh pressure

after U.S.-China trade talk optimism & strong regional data weighed in

yesterday's Asia-Pac session. Softer than exp. U.S. data allowed the space to

form a bottom in early NY hours, before another run lower appeared.

- Late Wednesday saw RTRS sources suggest that Germany's leading economic

institutes have revised down their '19 growth exp. to 0.8%, prev. 1.9%."

- Elsewhere, Kathimerini sources have noted that Wednesday's "EuroWorking Group

meeting concluded that Greece has completed the implementation of the reforms

agreed with its creditors and will recommend the disbursement of an outstanding

EUR1bn tranche to the country at the Eurogroup scheduled for Friday."

- The ever-fluid Brexit situation will continue to provide interest, with German

factory orders and the accounts from the ECB's most recent MonPol decision

providing the focal points of today's economic docket.