Gilts have moved higher over the.......>

GILT SUMMARY: Gilts have moved higher over the course of Monday, fully reversing

Friday`s losses, as statement to Parliament by PM May awaited amid increasingly

open rebellion on Brexit within the cabinet/party ranks.

- The Dec 18 Gilt future is up 38 ticks at 121.51, near intraday high of 121.69

(low of 120.80). 

- The belly and 10-Yr segment of the curve are outperforming: the 2-Yr yield is

down 4.3bps at 0.765%, 5-Yr is down 5.4bps at 1.095%, 10-Yr is down 5.4bps at

1.522%, and 30-Yr is down 4.1bps at 1.92%.

- 10-Yr Gilt yields now 23bps below October's high.

- Short Sterling futures up sharply at the end of the strip, Greens/Blues up 3-5

ticks.

- May set to say later the Brexit deal is 95% complete, but opposition is coming

in the shape of a vote Wednesday brought by rebellious lawmakers that would

render an Irish backstop illegal, with the DUP apparently in support.

- On the supply front, DMO re-opens the 0.125% Aug-28 linker on Tuesday for

Stg1.1bln.