Global bond markets are fairly.........>

BOND SUMMARY: Global bond markets are fairly steady Friday as the impact of US

Fed dovishness runs its course and the outcome of the G20 summit is awaited.

- EGBs fairly quiet. Bund Dec18 futures are unchanged at 161.41; BTPs down 17

ticks at 124.51. Periphery EGB spreads largely unchanged.

- Not much reaction to EMU inflation weakening in Nov.

- US T-Note futures (Mar19, which takes top step) up 4/32 at 119-14. Short-end

of the cash curve fairly static (2Yr yld up 0.2bps at 2.811%).

- JGB Dec18 futures up 5 ticks at 151.22; BoJ announced some modest changes to

JGB purchases, reducing frequency of purchases of 10+ Yr maturities to 4 times

in Dec vs 5 times in Nov.

- Rate futures trading fairly quietly; Short Sterling strip is largely

unchanged, with 1-1.5 up moves in ERs and EDs Reds through Blues.

- Though markets are focused on G20, there are some data and speakers to come,

including Italian GDP, and MNI's US Chicago PMI report. ECB's Coeure and Fed's

Williams are also due to speak.