Gilts have continued to make gains.....>

GILT SUMMARY: Gilts have continued to make gains throughout the afternoon as

risk assets traded with a bearish tone. 

- The bulk of the afternoon's gains came around 1400GMT when global bonds

spiked, on little apparent trigger but ahead of the US cash equity open.

- The Mar-19 Gilt future is up 71 ticks at 123.65, having traded in a

123.03/123.71 range. 

- The cash curve has flattened by 6.6bps between the 2-yr and 30-yr segments,

with the long end outperforming throughout the day. 

-  The 2-Yr yield is down 3.1bps at 0.722%, 5-Yr is down 5.5bps at 0.855%, 10-Yr

is down 7.7bps at 1.238%, and 30-Yr is down 9.7bps at 1.831%.

- Earlier in the day the DMO auction of the 1.75% Jan-49 Gilt saw strong demand,

allotting Stg1.48bln at an average yield of 1.91% with a cover of 2.82x. 

- Quiet on the data/BoE speaker front for the remainder of the week. Friday sees

the UK sovereign rating reviewed by Moody's.