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Gilts are opening modestly higher......>

GILT SUMMARY: Gilts are opening modestly higher Wednesday, underpinned by late
rally seen in US treasuries overnight and move higher in German Bunds in wake of
soft French PMI numbers. 10-yr Gilt yield is 3bp lower at 1.555% while curve is
ever so slightly flatter as long-end outperforms. 
- In domestic matters, there have been more Brexit related headlines this
morning with reports of Euro-sceptic Tory MPs setting out red-lines to PM May
ahead of key speech expected tomorrow. While Politico reports that David Davis
is to give UK's response to EU's transitional proposals in parliament today. 
- It is a busy day in the UK with both Labour market data and public borrowing
numbers crossing the wires at 0930GMT. Markets will be watching the wage data
and how large the budget surplus will be in the month of January. 
- Too add to the already busy calendar BoE Carney, Broadbent, Haldane & Tenreyro
appear all appear at the Treasury Select Committee hearing from 1415GMT to
answer questions on February inflation report. Any comments on timing of next
interest rate rise will be closely monitored.
- Markets also be preparing for release of Jan FOMC minutes after LDN close.

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