Gilts have broadly rallied since.......>

GILT SUMMARY: Gilts have broadly rallied since late morning with yields now

close to unch on the day for much of the curve.

- Current yield levels: 2-year -0.019%, 5-year 0.065%, 10-year 0.232%, 30-year

0.553%. The curve is marginally steeper with the 2s10s spread up 2bp.

- The Jun-20 gilt future trades at 137.73, just 2 ticks off the day's high.

- PM Boris Johnson is due to announce his government's lockdown exit strategy

and has hinted at some measures being eased from Monday even though the latest

death tolls shows a continued increase in casualties.

- The BoE kept policy unchanged at today's MPC meeting, while indicating that

the economy could contract by 25% in the second quarter.  

- According to the BoE's stress tests, UK banks could face GBP80bn in

pandemic-related losses, although the central bank stressed that the industry is

sufficiently resilient to withstand such losses.