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After a large sell-off on Friday,......>

BOND SUMMARY
BOND SUMMARY: After a large sell-off on Friday, gilts gapped higher on the open
today as some of the optimism after the Johnson-Varadkar meeting has worn off
over the weekend as it is apparent there is still some way to go before a Brexit
deal can be agreed.
- The Queen's Speech will be held this morning in what is effectively going to
be an announcement of the Tory manifesto for the almost inevitable forthcoming
UK election. However, continued Brexit negotiations will likely dominate moves
in UK markets.
- There is also continued focus on US-China trade talks with headlines at the
time of writing saying that China wants more talks before signing Trump's "Phase
one" deal.
- Bund futures have also been dragged higher by the increased concerns over both
the Brexit and US-China deals.
- USTs are closed for the Columbus Day holiday.
- Bund futures are up 0.42 today at 172.81 with Gilt futures up 1.05 at 132.85.

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