It has been less exciting in the........>

EGB SUMMARY: It has been less exciting in the European government bond markets

compared to Gilts with German Bund future fluctuating around unchanged levels

uncertain on which direction to take. German 10-yr Bund yield is little changed

at 0.599% having traded in a tight 2.5bp range.

- Core/Semi-core 30-yr EGBS have come under some selling pressure though and

therefore leave curves modestly steeper. German 2s/30s is 1.1bp higher. 

- EMU periphery are lagging Friday but have bounced off lows with Bund/BTP

spread now 0.5bp wider at 118.6bps vs high of 120.8bps as efforts to try and

form a government look to be failing as Five Star movement once again refused to

team up with Forza Italia.

- There has been a lack of Eurozone data for the markets to latch onto, so

market attention is likely to be on the IMF/World bank meeting in Washington

that kicks off today so comments from central bankers will be eyed.