Global concerns surrounding US-China....>

EGB SUMMARY: Global concerns surrounding US-China trade and retaliatory tariffs

have dominated European markets this morning but Bunds and Schatz have

maintained their lower beta, seeing smaller moves than either Gilts or USTs.

- MNI released an exclusive story this afternoon with sources suggesting that

TLTROs could be offered on tighter terms than had been anticipated by the

market.

- Election headlines continue to be watched but have not really moved the market

today.

- Bund futures are up 0.22 today at 166.47 with 10y Bund yields down -2.1bp at

-0.66% and Schatz yields down -1.3bp at -0.635%.

- BTP futures are down -0.04 today at 129.45 with 10y yields up 0.7bp at 2.688%

and 2y yields up 1.5bp at 0.604%.

- OAT futures are up 0.16 today at 162.61 with 10y yields down -1.5bp at 0.331%

and 2y yields down -0.8bp at -0.575%.