Little in the way of follow through in.........>

EGBS: Little in the way of follow through in German fixed income futures on the

back of the EuCo developments (see earlier bullets for details). Schatz -0.5,

Bobl -5 & Bunds -12, although activity may pick up as we move through the

traditional open at the top of the hour.

- Worth remembering that an FT reporter tweeted the following: "Frugals leaving

the summit saying they are satisfied going into day 4 (!!) of #euco. The

movement from EUR350bn to EUR390bn on grants however doesn't come for free. They

will also make a push tomorrow for addition rebates in the EU budget."

- All eyes on headline flow ahead of the EuCo reconvening at 16:00 Brussels

time.

- In terms of early market activity focus is likely to fall on peripheral spread

dynamics.