It's been a fairly quiet day ahead of...>

EGB SUMMARY: It's been a fairly quiet day ahead of tomorrow's ECB meeting and

tonight's FOMC meeting.

- Bunds have moved a bit higher and have outperformed Treasuries and gilts while

EGB peripheral spreads have generally tightened a little today.

- There have been a few exceptions to the rule. 10-Yr BTP spreads are up 4.8bps

at 224.5bps at writing. This follows Fitch's Italian downgrade to BBB- stable

last night in an off-cycle decision.

- Lithuania is also among the underperformers, following on from yesterday's

5/10-year dual tranche offering yesterday. ** Latest levels:

* Jun Bund futures (RX) up 46 ticks at 173.21 (L: 172.58 / H: 173.28)

* Germany 2-Yr yield is down 2bps at -0.714%, 5-Yr is down 2.7bps at -0.681%,

10-Yr is down 3.4bps at -0.503%, and 30-Yr is down 3.5bps at -0.096%.

* Jun BTP futures (IK) down 7 ticks at 138.85 (L: 137.14 / H: 138.9)

* spread of 10-Yr Spanish bonds vs Bunds is is down 3.2bps at 127.9bps

* spread of 10-Yr Portuguese PGBs vs Bunds is is down 4.9bps at 138.6bps

* spread of 10-Yr Greek bonds vs Bunds is is up 3.1bps at 269.8bps