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Gilts have opened modestly lower taking cue...>

GILTS
GILTS: Gilts have opened modestly lower taking cue from overnight fall in US
Treasuries as markets take positives from news that China is sending a
delegation to Washington for trade talks in late August. Move seen limited
though as non-deal Brexit concerns remain.
- 10-yr Gilt yield is 1.2bp higher at 1.235% and is leading the rest of the
yield curve higher.
- Some Analysts see the pick up in UK inflation as temporary, however, remain of
the view that it is unlikely to return quickly to 2.0% level and have raised
concerns about the recent fall in Sterling due to uncertainty over Brexit.
- Lativa was reported to have said that a no-deal Brexit was 50/50, nothing new,
but there are a growing number of EMU countries getting worried. Talks resume
once again in Brussels with today focusing on the Irish border issue. Tomorrow
its meant to be on the future relationship. There is a possibility that Barnier
may address reporters afterwards.
- Today sees the release of July retail sales with consensus looking for a rise
of 0.2% m/m in total sales.

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