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Gilt/EGB: Gilts and Bunds have been....>

BOND SUMMARY
BOND SUMMARY: Gilt/EGB: Gilts and Bunds have been under pressure this morning
with gilts pretty much retracing all of yesterday's gains and Bunds retracing
around half of yesterday's gains. After Draghi's dovish comments yesterday, the
market has turned its attention to tonight's Fed meeting and is also watching
the Tory leadership battle. We should receive the votes of the next round of
voting around 18:00BST today when 5 candidates will be whittled down to 4 with
two more rounds of voting tomorrow.
- Gilt futures are down -0.55 today at 130.21 with 10y yields up 4.3bp at 0.848%
and 2y yields up 2.7bp at 0.595%.
- Bund futures are down -0.58 today at 172.28 with 10y Bund yields up 2.8bp at
-0.293% and Schatz yields up 2.4bp at -0.746%.
- BTP futures are down -0.06 today at 134.15 with 10y yields down -0.7bp at
2.105% and 2y yields down -1.0bp at 0.224%.
- OAT futures are down -0.60 today at 164.20 with 10y yields up 3.4bp at 0.041%
and 2y yields up 2.9bp at -0.658%.

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