Ahead of this evening's no-deal........>

GILT SUMMARY: Ahead of this evening's no-deal Brexit vote, the government has

published its tariff plans in the event that the UK were to abruptly leave the

EU without an agreement. The CBI was quick to criticise the proposals, which it

claimed would severely damage the UK economy. 

- Gilt yields have steadily drifted higher during the morning and are now

~2.5-2.8bp higher on the day. Current yield levels: 2-year 0.738%, 5-year

0.918%, 10-year 1.191%, 30-year 1.716%. The curve trades close to unch.

- The Jun-19 gilt future continues to push lower and currently trades at 127.11

close to the bottom of the day's range.

- Inflation breakevens have dipped lower with the 10-year benchmark edging down

to 3.158% from 3.175%.

- Short sterling futures are 0.5-1.5 ticks higher with slight underperformance

in greens/blues.

- Following PMQs, Chancellor of the Exchequer Philip Hammond will present the

spring budget statement to parliament. The budget plans are fluid as Hammond has

previously hinted at two separate fiscal paths depending on the Brexit outcome.