Following intensifying pressure to.....>

GILT SUMMARY: Following intensifying pressure to stand down, PM Theresa May has

confirmed that she will announce a timetable for her departure in June following

discussions today with senior Tory MPs. This is perhaps of little surprise given

that the government has already indicated that it will table a vote on the

Brexit deal for the first week of June. May has said for a while that she will

stand down once a deal is passed and if it is not passed this time, it is

difficult how she could continue.  

- The Jun-19 gilt future trades at 128.7, up 11 ticks from Wednesday's close;

L-H: 128.61-129.03.

- Gilts now trade close to unch on the day. Cash yields (Last / 1d chg / L...H):

2Y (0.7015% / -0.3bp / 0.6919%...0.705%); 5Y (0.81% / -0.4bp /

0.8008%...0.8146%); 10Y (1.0603% / -0.7bp / 1.0526%...1.0671%); 30Y (1.6065% /

-0.5bp / 1.598%...1.6119%).

- Short sterling futures have rallied :W (broadly + 0/1 ticks higher); R (+

0.5/1 ticks); G (+ 0.5/1 ticks); B (+ 0.5/1 ticks)