It has been a quiet day for EGBs........>

EGB SUMMARY: It has been a quiet day for EGBs which have largely been led once

again by the general risk environment.

- After positive headlines surrounding US-China trade talk this morning, the

sell-off has been fuelled further by a better than expected ISM

non-manufacturing print in the US. Bunds are outperforming gilts but

underperforming USTs.

- Peripheral spreads have also narrowed today, generally over 2bp tighter with

semi-core spreads to Bunds also tightening.

- Bund futures are down -0.57 today at 170.42 with 10y Bund yields up 4.0bp at

-0.312% and Schatz yields up 1.2bp at -0.643%.

- BTP futures are down -0.26 today at 143.55 with 10y yields up 2.2bp at 1.015%

and 2y yields up 0.3bp at -0.195%.

- OAT futures are down -0.36 today at 167.21 with 10y yields up 2.6bp at -0.19%

and 2y yields up 1.0bp at -0.597%.