The five-year Bobl was up 29.5 ticks to 106.37, the two-year Schatz up 10.5 ticks to 102.61 and the June 2008 Euribor contract trading up 0.5 ticks to 94.96.

The spread between the 10-year Bund and 10-year U.S. Treasury notes widened 3.002 bps to -56.20.

Yields on the UK's 30-year bond were down 2.0 bps to 4.63%, the five-year bond down 3.3 bps to 4.99% and the two-year bond down 3.3 bps to 5.02%.

The September 2008 Short Sterling contract was up 0.5 ticks to 94.03.

Yields on U.S. 10-year Treasury notes were flat at 3.975%.

European stock markets were declining with the Eurostoxx down 19.78 points to 2853.90, the UK FTSE 100 down 36.00 points to 5440.602 and the German DAX down 34.14 points to 6319.60.

The Japanese Nikkei was trading down 27.51 points to 13237.89.

The Canadian dollar was up 0.05 cents to 0.9829 against the USD (1.0174 USD/CAD). Against the euro, the loonie was up 0.12 cents to 0.6268 (1.5952 CAD/EUR).

The U.S. dollar was up 0.01 to 106.74 and the euro was down 0.23 to 167.37, both against the yen.

The euro was down 0.22 cents to 1.5681 while the pound sterling was down 0.19 cents to 1.9815, both against the USD.

The euro was down 0.04 cents to 0.7913 pounds.

The Swiss franc was down 0.02 cents to 1.0265 against the USD and up 0.22 cents to 1.6096 against the euro.

All data taken at 6:59 a.m. EDT.

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