Following Attorney General Geoffrey....>

GILT SUMMARY: Following Attorney General Geoffrey Cox's unfavourable decision to

maintain his existing legal judgement on the Irish backstop, both the DUP and

ERG blocs in parliament have indicated that they will vote against PM Theresa

May's Withdrawal Agreement this evening. 

- The meaningful vote is due to take place around 1900GMT. For the time being

the subsequent no-deal and Brexit extension votes are still expected to take

place if May's deal is voted down tonight. However, with the clock ticking and

the situation fluid, there is a risk of these subsequent votes being delayed or

changed.

- Having rallied from around mid-morning, gilts have traded sideways through the

afternoon with yields broadly <1.5bp lower on the day. Current yield levels:

2-year 0.723%, 5-year 0.900%, 10-year 1.175%, 30-year 1.694%.

- The Jun-19 gilt future trades at 127.28, 13 ticks off the high.

- Short sterling futures are broadly 0.5-1.0 ticks lower.