Gilts have broadly traded sideways.....>

GILT SUMMARY: Gilts have broadly traded sideways since mid-morning, following a

sharp rally early into the session. 

- The Dec-19 gilt future trades at 132.82, up 63 ticks from Wednesday's close

and 19 ticks off the day's high; L-H: 132.44-133.01.

- Gilt yields are 2-6bps lower on the day. Cash yields (Last / 1d chg / L..H):

2Y (0.4905% / -2.4bp / 0.4719%...0.4945%); 5Y (0.4267% / -5bp /

0.4103%...0.4321%); 10Y (0.6241% / -6bp / 0.6078%...0.63%); 30Y (1.1422% /

-6.5bp / 1.1271%...1.1485%).

- The curve has bull flattened: 2s10s (12.8bp / -3.5bp / 12.7bp..13.7bp); 2s30s

(64.6bp / -3.9bp / 64.6bp..65.8bp).

- The short sterling futures strip has flattened: W (broadly + 0.5/2.0 ticks

higher); R (+ 3.5/5.0 ticks); G (+ 5.5/6.5 ticks); B (+ 6.5/7.0 ticks).