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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
- Looking into next week, BoE starts its APF reinvestment programme and
Chancellor Philip Hammond delivers Spring Budget.

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