All eyes are on PM Theresa May's.......>

GILT SUMMARY: All eyes are on PM Theresa May's Brexit vote speech at 4pm today.

This is supposedly a chance for the PM to outline the details of her 'new' and

'bold' deal, although it is unlikely that it will contain any provisions that

would be sufficient to get her  Brexit deal across the line.

- Nonetheless, headline risk remains high. Any significant shift in position

with respect to a customs union, second referendum or fixed departure date for

the PM would would market moving.

- The Jun-19 gilt future trades at 128.71, up 2 ticks from Monday's close and 15

ticks off the day's high; L-H: 128.46-128.86.

- Gilt yields are 0-1bps higher on the day. Cash yields (Last / 1d chg / L..H):

2Y (0.718% / +1bp / 0.7139%...0.7255%); 5Y (0.8207% / +0.9bp /

0.8164%...0.8317%); 10Y (1.0631% / +0.9bp / 1.0589%...1.0766%); 30Y (1.61% /

+0.5bp / 1.6052%...1.6193%).

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

(broadly - 0/1 ticks lower); R (- 1 tick); G (- 0.5/1 ticks); B (flat/-0.5

ticks).