Gilts have had a bit of a..............>

GILT SUMMARY: Gilts have had a bit of a mid-afternoon rally Thursday alongside

lower equities but remain weaker on the day, with Brexit headlines dominating.

- The Mar 19 Gilt future dropped as much as 44 ticks to 123.53 by 1400GMT amid

Reuters citing EU Diplomats pointing to a new `parallel` arrangement to the

Withdrawal agreement that could help secure its passage in UK Parliament.

- Risk-off returned afterwards alongside weakening global equities, with Mar19

futures last off 26 ticks at 123.71.

- Solid auction of Jul-57 this morning had earlier helped Gilts higher.

- The 2-Yr yield is up 2.3bps at 0.77%, 5-Yr is up 2.6bps at 0.867%, 10-Yr is up

3bps at 1.211%, and 30-Yr is up 1.7bps at 1.723%.

- Next Brexit meaningful vote pencilled in for Feb 27; talk today (incl BBG

report) of several members of the government set to vote in favour of the

Cooper-Letwin proposal which would remove the threat of a no-deal Brexit.

- Key UK data and BoE speaking engagements are concluded for the week.