It has been a relatively quiet.........>

BOND SUMMARY: It has been a relatively quiet session so far, punctuated by the

Q4 GDP data for the UK. The initial sell-off in core European govvies has

petered out and awaiting a fresh catalyst. 

- There are multiple central bank speakers today from the Fed, ECB and BoE,

which could provide additional newsflow.

- Gilt yields are 1-2bp higher on the day, while the curve trade close to flat.

Current yield levels: 2-year 0.498%, 5-year 0.433%, 10-year 0.572%, 30-year

1.078%. 

- The German bund curve has bear steepened with 2s10s up 2bps and 2s30s now 3bp

wider.

- The longer end of the French OAT curve has marginally underperformed with the

30- and 50-year yields up 3bp.

- It has been a relatively quiet session for BTPs where yields are <=1bp higher

on the day.