It has been a mixed morning in core....>

BOND SUMMARY: It has been a mixed morning in core bond markets. Bunds,

Treasuries and gilts all opened lower and have since made back some of their

losses. Treasuries and gilts remain below last week's closing levels but Bunds

have recovered their losses. Equities are up across the board led by China.

- The highlight today will be the release of the ISM non-manufacturing index.

The calendar is otherwise fairly quiet today. Looking ahead, we begin to get

some activity data from the Eurozone tomorrow while Wednesday is the highlight

for the UK with Chancellor Sunak giving the summer economic update.

- TY1 futures are down -0-3 today at 139-00 with 10y UST yields up 1.5bp at

0.685% and 2y yields up 0.4bp at 0.158%.

- Bund futures are up 0.04 today at 176.06 with 10y Bund yields down -0.4bp at

-0.438% and Schatz yields down -0.1bp at -0.694%.

- Gilt futures are down -0.24 today at 137.19 with 10y yields up 1.7bp at 0.203%

and 2y yields up 1.7bp at -0.71%.