Gilts have gradually firmed into the...>

GILT SUMMARY: Gilts have gradually firmed into the afternoon session with price

action contained in what has been a relatively quiet day.

- The Jun-20 gilt future trades at 137.05 and near the highs of the day.

- Cash yields up broadly 1bp lower with marginal outperformance at the shorter

end. Current yield levels: 2-year 0.040%, 5-year 0.150%, 10-year 0.284%, 30-year

0.627%.

- The short sterling futures strip the has flattened with whites up 1.5-3.5

ticks on the day.

- The UK data calendar will be relatively uneventful for the rest of the week

with just money supply and consumer credit data on Friday being the only

publication of note (the manufacturing PMI, released on the same day, will be a

final print).