Gilts have inched higher through the...>

GILT SUMMARY: Gilts have inched higher through the day with yields now

marginally below yesterday's closing levels. Equities have stabilised somewhat,

while cable is slightly offered. 

- The Sep-20 gilt future trades at 137.75, striking a new high for the day. 

- Cash yields are 1-2bp lower across the curve. Last yield levels: 2-year

-0.094%, 5-year -0.0582%, 10-year -0.1568%, 30-year 0.6062%.

- Short sterling futures are broadly 1.0-1.5 ticks higher in whites through to

blues. 

- Data published earlier in the session showed much lower-than-expected mortgage

approvals in May alongside a sharp acceleration in M4 money supply growth (11.9%

Y/Y vs 9.5% in April). 

- Tomorrow will see the release of the final Q1 GDP estimate. 

- The DMO will come to market on Wednesday to auction the 0.125% Jan-28 gilt and

the 0.625% Oct-50 gilt.