Gilts have again outperformed USTs.....>

GILT SUMMARY: Gilts have again outperformed USTs and Bunds this morning.

- The main focus in the gilt market has been the launch of the 2041 linker

syndication with orderbooks over Stg20bln and Stg2.5bln allocated.

- In terms of politics, Labour has provided some extra clarity on its Brexit

position, stating that it is against a no deal and against a Tory deal. The

position if Labour was in a position to negotiate its own deal still remains

unclear, however.

- The Deputy Speaker is due to announce which amendments will be voted on with

the Northern Ireland bill in the early London afternoon with the Grieve

amendment potentially significant. This would add set dates for parliament to

sit, stopping the future PM proroguing parliament to force through a no deal. If

this is selected it will likely be voted on around 7pm BST. This would be just

one hour before the Johnson-Hunt ITV debate is due to begin in Manchester so

would make it difficult for the potential leaders to vote in the Commons in

London without the time of the debate being shifted.