Gilts have opened lower, taking cue from......>

GILTS: Gilts have opened lower, taking cue from overnight fall in US Treasuries

and opening fall in German Bunds and so far dismissing soft UK GfK consumer

confidence data. UK 10-yr Gilt yield is 2.4bp higher at 1.279% and is leading

the rest of the curve higher.

- June's UK consumer confidence wiped out all the gains seen in May, reverting

back to the -9 reported in April, the latest survey by GfK found. The fall in

June's GfK Consumer Confidence Index was driven by falls across every measure,

with the general economic situation leading the way lower.

- The agreement on EU migration is the main factor seen weighing on Gilts, while

EU leaders are due to discuss Brexit later today.

- Today will see release of final UK Q1 GDP and markets expectations are for it

to remain unchanged at 0.1% q/q. BoE M4 money supply and mortgage approval data

is also released at 0930BST.