It has been a risk-on day in...........>

BOND SUMMARY: It has been a risk-on day in equities, and oil prices have moved

higher, but the follow through to fixed income markets has been a bit less

obvious. Treasuries are marginally lower on the day while gilts and Bunds are

both higher. 

- Peripheral spreads are generally a little tighter, but not substantially. This

comes after an MNI sources story yesterday send BTP spreads wider towards the

end of yesterday's session on the back of news that the ECB may not expand the

PEPP asset purchase programme in its June meeting (consensus expects an

extension on Thursday).

- TY1 futures are down -0-2 today at 138-30+ with 10y UST yields up 0.8bp at

0.668% and 2y yields down -0.1bp at 0.157%.

- Bund futures are up 0.17 today at 171.82 with 10y Bund yields down -0.6bp at

-0.410% and Schatz yields up 0.9bp at -0.658%.

- Gilt futures are up 0.04 today at 136.88 with 10y yields down -0.5bp at 0.225%

and 2y yields down -0.8bp at -0.19%.