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Gilts extended their sell-off in the...>

GILT SUMMARY: Gilts extended their sell-off in the afternoon and look set to
close sharply lower despite late announcement from EU's Juncker that an
agreement had not been reached today on Brexit, but is confident can achieve
sufficient progress before summit next week.
- There was some disappointment as the market was gearing up for a deal today.
- 2-yr Gilt yield is +5.7bp at 0.501%, 5-yr +5.1bp at 0.768%, 10-yr +5.4bp at
1.281% and 30-yr 5.1bp at 1.844% according to Tradeweb.
- Gilts were starting to recover from large opening losses as there was
initially conflicting comments if progress on talks on the issue surrounding the
Irish border had been made, however heading into lunch time, Michal Barnier was
overheard telling MEPs that a "breakthrough was likely today" and Gilts sold off
- Then further comments from Iris government that agreement on the wording had
been reached on border issue then sent Gilts slipping further. While political
concerns from the NI's DUP and Scotland's SNP were brushed off. 
- 2-yr swaps spreads are 3.3bp tighter while 5-yr breakevens 0.2bp lower

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