German fixed income futures trade below.......>

BUNDS: German fixed income futures trade below settlement levels, aided by

buoyancy for risk assets since Monday's settlement.

- Schatz -0.015, Bobls -0.110, Bunds -0.37.

- Brexit matters provided the initial round of risk-on flows. UK PM May & EU's

Juncker pointed to no further negotiations, and the temporary nature of the

backstop, as well as the good nature of the backstop & arbitrary measures if the

good-faith of the backstop is breached, if ever enacted. It seems that there

were no changes to the text of the Brexit deal (withdrawal agreement) itself.

- This has resulted in at least some of the Eurosceptic wing of the UK's ruling

Conservative party remaining cautious over the "progress." BBC sources suggested

that AG Cox is "agonising" over whether to alter his legal advice on the deal,

which will be key, ahead of today's vote in the Commons.