British government bonds ended the previous session at the lowest closing level in more than three weeks after Germany's Constitutional Court gave a green light for the ratification of the euro zone's new bailout fund.
"This welcome outcome of the court's lengthy deliberations goes to re-highlight that progress is being made on the path towards an eventual resolution to the broader euro area crisis," Lloyds strategists wrote in a note.
At 0748 GMT the December gilt future was 7 ticks higher at 119.23. The equivalent Bund future was 26 ticks up.
Ten-year gilt yields were little changed at 1.831 percent, with their spread over Bunds more than 1 basis point wider at around 22 basis points.
Britain will sell 3.5 billion pounds of 1.75 percent 2022 gilts this session, with results due around 0930 GMT.
Many analysts expected lacklustre demand for the paper despite its attractive relative value.
"Three further auctions of (the bond) are scheduled this year and this may detract somewhat from the underlying bid, so results are unlikely to be stellar," RBS strategists said.
Nomura's Artis Frankovics added that the amount on offer was "bulky" given that 1.25 billion pounds' worth of index-linked gilts was also auctioned on Tuesday, and also noted that the paper would be eligible for only three of the remaining eight Bank of England buybacks of 7- to 15-year gilts.
The US Federal Reserve, due to announce its policy decision after the close of gilt trading on Thursday, appears set to launch a third round of unconventional monetary stimulus while signaling that a weak US economy may warrant ultra-low interest rates for at least another three years.