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EGBs/GILTS: Gilts are weaker in the....>

BOND SUMMARY
BOND SUMMARY: EGBs/GILTS: Gilts are weaker in the wake of Brexit extension news
overnight, with core EGBs giving up some post-ECB meeting gains.
- Gilt Jun futures down 15 ticks at 128.15, following agreement on flexible
Brexit delay until Oct 31. 
- Bunds have retraced some of Wednesday afternoon`s post-Draghi-led gains. Jun
futures (RX) down 15 ticks at 165.74 (low of 165.67).
- Semi-core following suit, Jun OAT futures (OA) down 6 ticks at 162.54.
- Italy sells M/L-T BTPs this morning. Jun BTP futures (IK) down 11 ticks at
130.27, with 5-Yr cash yield underperforming, up 1.0bps at 1.486%.
- Spain also selling new 2024 Bono and re-opening Jul-35 Obli. Spreads fairly
steady in the early going, 10-Yr vs Bunds up 0.2bps at 107.2bps.
- Short-sterling strip is 1.5-2.0 ticks lower; some ER futures off 0.5 ticks.
- No surprises in French and German Mar final inflation = in line with Flash.
- ECB Q1 Survey of Professional Forecasters out at 0900UK; this afternoon ECB
speakers Villeroy, Visco and Knot appear in Washington amid IMF Spring Meetings.

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