Gilts have had a round-tripper on......>

GILT SUMMARY: Gilts have had a round-tripper on Monday, opening sharply lower,

later recovering those losses, and then selling off again.

- Mar 19 Gilt futures fell to a low of 123.06 after the open, then rose to

123.42 by mid-morning (ahead of weak Construction CPI data) before fading anew.

Last trading down 24 ticks at 123.09.

- Weakness across the cash Gilt curve with some bear steepening: The 2-Yr yield

is up 1.5bps at 0.789%, 5-Yr is up 2.1bps at 0.913%, 10-Yr is up 2.5bps at

1.273%, and 30-Yr is up 3.2bps at 1.778%.

- A few Brexit headlines over the course of the day, but nothing particularly

groundbreaking: a visit of MPs with EC Sec Gen Selmayr in Brussels producing

nothing in terms of Withdrawal Agreement renegotiation.

- Announced earlier that PM May set to make a speech in Northern Ireland Tues.

- U.K. data Tuesday highlighted by Svcs/Composite PMI for January; otherwise the

calendar is light until the BoE meeting Thursday.