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A tentative risk-on backdrop has.......>

GILT SUMMARY
GILT SUMMARY: A tentative risk-on backdrop has Gilts trading fairly flat
following Tuesday`s rally, with PM May`s showdown meeting with Conservative
Party parliamentary colleagues ahead.
- The Dec 18 Gilt future is up 8 ticks at 121.99, having traded in a narrow
range of 121.89-122.07 today.
- Limited curve movement: 2-Yr yield is up 0.4bps at 0.741%, 5-Yr is up 0.4bps
at 1.059%, 10-Yr is up 0.7bps at 1.476%, and 30-Yr is up 0.9bps at 1.878%.
- Short Sterling futures up a tick more or less across the strip.
- FTSE up 0.5% while GBPUSD off 0.2% at 1.2954.
- With a Cabinet meeting Tuesday apparently devolving into open conflict
according to reports and earlier reports of a leadership challenge, PM May will
address the Conservative '1922 Committee' Wednesday.
- Times political editor tweeted last night that May`s transition plan could
last for years, with `Plan A` to involve N Ireland in a separate VAT area.
- Limited data schedule today, UK Finance Loans for Housing out at 0930BST.

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