Gilts have opened on the back foot.....>

GILT SUMMARY: Gilts have opened on the back foot with the yield curve shifting

higher by around 1bp as markets digest overnight news of US president Trump

signing off tariffs on steel and aluminium imports and announcement that he

plans to meet North Korean President Kim sometime in May. 10-year Gilt yield is

1.2bp higher at 1.486%.

- In the UK Bloomberg have written a story about how privately the UK government

expect to sign Brexit deal in January 2019 rather than this October and could

put pressure on getting the deal rectified by March 2019.

- Looking ahead UK industrial and trade balance data is released at 0930GMT

today with expectations of a rebound in production due to the re-opening of the

Fortis pipeline. Expectations is for the trade balance deficit to narrow

slightly. US non-farm payroll and earnings data will then be keenly eyed this

afternoon.

- Looking into next week, BoE starts its APF reinvestment programme and

Chancellor Philip Hammond delivers Spring Budget.