- US Tsys have rallied with the........>

BOND SUMMARY: - US Tsys have rallied with the 10-year benchmark trading at

3.083% from 3.096%.

- JGB yields have ticked lower with the 10-year trading at 0.113% down from a

high of 0.122%

- German bunds have traded sideways since the open. The 2-year bund has held

within a -0.513/-0.506% range and the 10-year has traded within a 0.526%/0.539%

range. The curve is flat on the day.

- The French OAT curve has marginally flattened with the 2s10s spread narrowing

to 116.5bps from 117.2bps.

- Italian BTPs have rallied with the 10-year yield pushing down to 2.812% from a

morning high of 2.907%.

- Gilts have rallied, with outperformance at the long end causing the curve to

flatten. The 2s10s spread has traded down to 78.3bps from 79.8bps.

- Euro$ futures are 1.0-2.5 ticks higher. Euribor futures are flat to 0.5 ticks

lower.