- Having ended the US government.......>

BOND SUMMARY: - Having ended the US government shutdown, President Donald Trump

has been quick to reaffirm his commitment to building the border wall. Speaking

to the WSJ, the President has hinted the possibility of calling a national

emergency in order to fund the wall. US TSYs have been rangebound this morning.

Current yield levels: 2-year 2.600%, 10-year 2.751%, 30-year 3.057%.

- The Mar-19 JGB future trades at 152.66 at the bottom of the day's range.

- Following last week's marginally dovish ECB tilt, this week's CPI releases are

key.

- The longer-end of the bund curve has sold off slightly with a marginal

widening of 2s10s/2s30s.

- Italian BTPs have sold off across the curve with yields up 3-4bp from last

Friday's close.

- Ahead of this week's parliamentary votes, which could hand more control over

Brexit, to the House of Commons, gilts are trading sideways in a tight range.

- Euro$ futures trade flat.0.5 ticks higher in whites and down 0.5-1.0 ticks in

reds/greens/blues. Euribor futures are broadly flat.