Gilts continue to push lower late......>

GILT SUMMARY: Gilts continue to push lower late Wednesday afternoon, ahead of

tonight`s Parliamentary vote on ruling out `no deal` Brexit.

- The Jun 19 Gilt future is down 29 ticks at 127.02, low of 126.97. The 2-Yr

yield is up 2.9bps at 0.748%, 5-Yr is up 3.1bps at 0.924%, 10-Yr is up 3.5bps at

1.198%, and 30-Yr is up 3.8bps at 1.727%.

- MPs will vote at 1900GMT on whether to leave the E.U. without a deal on 29

March. Downing Street has confirmed that Conservative MPs will have a free vote.

- Widely expected that MPs will vote to rule out `no deal` on the 29th (99%

implied odds on Betfair), though this afternoon have seen some upside Short

Sterling option structures that possibly suggest hedging `no deal` concerns.

- Brexit vote amendments to be voted on this evening are a) ruling out `no deal`

forever and b) delaying Brexit to mitigate consequences of `no deal`. Neither

looks likely to pass.

- DMO`s financing remit for 2019-20 announced earlier includes Stg114.1bln in

gross gilt sales (5-10% below consensus), with Stg85.8bln in auctions, Stg21bln

in syndications and Stg7.3bln from unallocated issuance.