A Belfast court has ruled that a.......>

GILT SUMMARY: A Belfast court has ruled that a no-deal Brexit would not break

the Good Friday Agreement. The government has also received favourable court

rulings in England & Wales, against an unfavourable ruling in Scotland. All eyes

are on the Supreme Court ruling Tuesday next week.

- Elsewhere, PM Boris Johnson has rejected a claim that that he lied to the

Queen over proroguing parliament.

- The Dec-19 gilt future trades at 132.3, down 20 ticks from Wednesday's close

and trading near worst levels; L-H: 132.28-132.71.

- Gilts have sold off with yields 1-2bps higher on the day. Cash yields (Last /

1d chg / L..H): 2Y (0.5061% / +2.3bp / 0.4912%...0.5071%); 5Y (0.4672% / +2.2bp

/ 0.4515%...0.4675%); 10Y (0.6532% / +1.8bp / 0.6369%...0.6537%); 30Y (1.1236% /

+0.6bp / 1.1024%...1.1242%).

- The curve has bear flattened: 2s10s (13.5bp / -1.1bp / 12.8bp..13.6bp); 2s30s

(60.6bp / -2.2bp / 59.8bp..61.8bp).

- The short sterling futures strip has steepened: W (- 0.5/2.0 ticks); R (-

2.0/3.0 ticks); G (- 3.5/4.0 ticks); B (- 3.5/4.0 ticks).