A Scottish court has ruled that........>

GILT SUMMARY: A Scottish court has ruled that proroguing parliament was illegal.

The government has indicated that it will appeal. The judges involved did not

issue an injunction to order the UK government to reconvene parliament. Labour

and the SNP have demanded that parliament be recalled.

- The Dec-19 gilt future trades at 132.19, down 39 ticks from Tuesday's close

and 20 ticks off the day's low; L-H: 131.99-132.49.

- Gilts have sold off with yields 2-3bps higher on the day. Cash yields (Last /

1d chg / L..H): 2Y (0.4967% / +2.7bp / 0.4873%...0.5049%); 5Y (0.458% / +2.6bp /

0.4495%...0.4671%); 10Y (0.661% / +2.5bp / 0.6539%...0.6722%); 30Y (1.1576% /

+2.7bp / 1.1507%...1.1658%).

- Short sterling futures have broadly sold off with greens underperforming: W (-

0.5/2.5 ticks); R (- 3.0/4.5 ticks); G (- 4.0/4.5 ticks); B (+ 4.0 tick).