- Global bonds had been on the back....>

BOND SUMMARY: - Global bonds had been on the back foot this morning in line with

a general increase in risk sentiment. However, a Reuters sources story that said

"several" ECB policymakers doubted that growth would rebound in Q2 and had

little confidence in the forecasting models saw bonds spike higher. 

- This has let to Bunds being the outperformers of the day.

- UK labour market data was in line with expectations and the German ZEW was

mixed, with the current situation component disappointing but the expectations

component coming in better than expected.

- Bund futures are up 0.06 today at 164.72 with 10y Bund yields down -0.3bp at

0.052% and Schatz yields down -0.9bp at -0.576%.

- TY1 futures are down -0-2 today at 123-03 with 10y UST yields up 0.4bp at

2.559% and 2y yields down -0.2bp at 2.391%.

- Gilt futures are down -0.03 today at 126.82 with 10y yields up 0.4bp at 1.223%

and 2y yields up 0.9bp at 0.790%.

- BTP futures are down -0.31 today at 129.96 with 10y yields up 1.8bp at 2.595%

and 2y yields up 2.8bp at 0.494%.