It has been a rather uneventful........>

BOND SUMMARY: It has been a rather uneventful start to the day for core fixed

income this morning, in contrast to recent mornings which have seen a decent

move by at least one of USTs, Bunds or gilts in early European trading.

- Bunds are outperforming with 10y yields down 1.2bp while 10y UST/gilt yields

are up/down by 0.5bp respectively.

- The only notable data release so far today has been the final print of German

CPI which was in line with the preliminary release. Later today US retail sales

will be key while we will also receive weekly claims data, import/export price

data, TIC data, NAHB housing data and business inventories.

- TY1 futures are down -0-0+ today at 129-10+ with 10y UST yields up 0.6bp at

1.790% and 2y yields up 0.6bp at 1.561%.

- Bund futures are up 0.14 today at 171.60 with 10y Bund yields down -1.2bp at

-0.213% and Schatz yields down -0.2bp at -0.599%.

- Gilt futures are down -0.01 today at 133.28 with 10y yields down -0.5bp at

0.648% and 2y yields down -0.7bp at 0.451%.