Global bonds are broadly stronger on...>

BOND SUMMARY: Global bonds are broadly stronger on Bank of England `Super

Thursday`, following Wednesday`s non-event FOMC decision and a recovery in JGBs

after BOJ made unscheduled purchases.

- Most strength has been in the belly of curves, with Bobls outperforming in

Germany, 5-Yr yields down 0.7bps at -0.106%, compared with Schatz yields down

0.2bps and 10-Yr Bunds down 0.5bps.

- JGBs stronger in 5-10 Yr space after unscheduled BOJ buys in that segment,

5-Yr and 7-Yr yields down 0.1bps each, versus 15-40-Yrs which are moving wider.

- US Tsy strength has been a bit more focused on the 10-Yr, with yield down

1.3bps at 2.993% and flattening 2s10s by 0.7bps at 31.8bps.

- As for Gilts, little reaction after very strong June construction PMIs, with

all attention on BOE and Carney midday. Sep8 future off 1 tick at 122.11.

- MNI PINCH pricing in 92% hike odds. Extremely heavy volume in front-month

Short Sterling futures ahead of BOE, with over 170k traded mostly at 99.135.

- EGB periphery spreads drifting, with Italian BTPs 3.3bps wider to Bunds for

both 2-Yr and 10-Yrs. Greece widening again after Wednesday`s relief rally.