- US TSYs are the big mover today......>

BOND SUMMARY: - US TSYs are the big mover today following Fed Chair Jerome

Powell's bullish comments regarding the neutral rate. The 10-year TSY trades at

a yield of 3.215% up from 3.1795%.

- The long end of the JGB curve is selling off. The 30-year JGB trades at a

yield of 0.950% up from a low of 0.926% and is on the verge of punching through

long term support.

- German bunds have lacked direction this morning with slight steepening of the

curve.

- The short end of the French OAT curve has rallied, causing the curve to

steepen. The benchmark 2-year OAT trades at -0.341% down from a high of -0.300%

while the 2s10s spread has widened to 120.4bps from 115.8bps.

- Italian BTPs are still the main EGB mover. The 2-year BTP trades at 1.214% up

from a morning low of 1.104%.

- Gilt yields have drifted higher with the longer end underperforming. 

- Euro$ are down 3.5-7.0ticks and the Euribor futures strip has steepened with

greens/blues down 4.5-6.0 ticks.