- US treasuries are looking for........>

BOND SUMMARY: - US treasuries are looking for direction this morning. Trading is

within a relatively tight range. Curve is broadly flat.

- Marginal tick higher in long-end JGB yields. The 10-year benchmark trades at

0.085% up from a low of 0.074%.

- German yields have edged higher since the morning, with the curve flat

overall. The 2-year trades at -0.616% up from -0.6289% while the 10-year is up

to 0.329% from 0.315%. The data calendar is light today. Market PMI data is due

Thursday.

- French OAT yields have similarly ticked higher. Key levels: 2-year -0.447%,

5-year 0.013%,10-year 0.670%. 30-year 1.558%.

- Italian BTPs have rallied since the open with the curve steepening on the back

of outperformance at the short end. The 2-year trades at 0.967% from 1.034% and

the 10-year trades at 2.938% from 2.969% with the 2s10s spread widening to

195.3bps from 186.9bps.

- Tight trading in gilts and limited movement in the curve.

- Euro$ up 0.5-2.0 ticks, EURIBOR flat.