- US TYS yields are trading near the...>

BOND SUMMARY: - US TYS yields are trading near the middle of the day's range.

Current yields: 2-year 2.815%, 10-year 2.952%, 30-year 3.221%.

- JGB futures trade at 151.45 off a high of 151.48.

- Bunds have rallied and the curve has flattened slightly on the back of the

long-end outperforming. The 2s10s spread has narrowed to 89.3bps from a high of

90.2bps.

- The early morning sell-off in French OATs has petered out, with yields

hovering the middle of the day's range. The very long-end has outperformed with

the 30-year benchmark yield pushing down to 1.622% from 1.639%.

- BTP ranges have been relatively contained so far, with short-end yields

drifting lower and the longer end lacking direction. The curve has steepened

with 2s30s trading up to 310.0bps from a low of 306.5bps.

- Gilts have sold off across the curve with yields up 2-4pp.

- The Euro% futures are down 1.0-4.0 ticks. The Euribor futures strip has

flattened with whites flat/0.5 ticks lower and greens/blues up 0.5-1.5 ticks.