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Gilts are set to close higher led by...>

GILT SUMMARY
GILT SUMMARY: Gilts are set to close higher led by the 10-yr and over part of
the curve as Brexit uncertainty, risk-off sentiment and soft US unit labor costs
all support flattening move in the yield curve. 2s/10s is 3.2bp flatter.
- 2-yr Gilt yield is -1.5bp at 0.486%, 5-yr -2.9bp at 0.728%, 10-yr -4.7bp at
1.218% and 30-yr -4.3bp at 1.786%. according to Tradeweb.
- Gilts opened higher taking cue from risk-off sentiment seen overnight in late
US and Asia trade, but started to fade lower around midday as markets waited for
NY to open and spokesman for PM May said that progress is being made on Brexit
and PM is working towards Dec 14 summit. 
- Gilts rallied higher once again however, as US unit labor costs surprised to
the downside and markets took flight on comments from Chancellor Hammond that
the cabinet still did not know what Brexit end deal they wanted and that it had
not been discussed. Gilts faded from session highs in last hour as makets looked
ahead to key US non-farm payroll data on Friday.
- Breakevens are mixed with 5Y 0.7bp wider and 30Y 1.5bp tighter, while swap
spreads are mixed with 2Y to 5Y slightly tighter while 7Y and above are wider.
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