Global bonds are trading with a........>

BOND SUMMARY: Global bonds are trading with a risk-off tone early Wednesday.

- European morning has been highlighted by comments from ECB Chief Econ. Peter

Praet, who dampened expectations for fresh TLTROs to be announced in March.

- This set a risk-off tone, with core EGBs rising and peripheries selling off.

- German 2-Yr yield is down 0.1bps at -0.567%, 10-Yr is down 0.9bps at 0.096%.

- 10-Yr Italian BTPs ylds up 5bps at 273.3bps vs Bunds, with Italian banks

thought to be among the biggest losers were ECB to push off TLTROs.

- Gilts trading a little stronger, Mar19 futures up 15 ticks at 124.15, one tick

off day's high. Internal party fissures the main story (three MPs from ruling

Conservatives set to leave the party today), fuelling early UK election talk.

- Treasuries pushing higher; Mar 19 T-Note future is up 3.5/32 at 122-105,

touched highest since Feb 11 at 122-11.

- Ongoing U.S.-China trade talks remain in focus, Trump said 'going very well'.

- Mar19 JGB future up 5 ticks at 152.95.

- FOMC Jan meeting minutes and Fed`s Kaplan up later, with Eurozone Consumer

Conf. data a minor highlight.