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Needle Still Points South


Yields Bounce as Equities Make New Monthly Highs


Heading North


Bull Rally Accelerates


Economists Survey Raises 2021 CPI Forecast To 4.9%

GILTS: Gilts have opened on the soft side with the yield curve bear flattening
as the short-end comes under the most selling pressure, despite continued
domestic political concerns, as markets believe the BoE will look through these
concerns and go ahead with a rate hike in August.
- UK 10-yr Gilt yield is 1.1bp higher at 1.283% according to trade web with
2s/30s 0.6bp tighter.
- Theresa May's hopes of winning support for her Brexit compromise have been
dealt a huge blow as Justine Greening has become the first senior Conservative
to support calls for a second referendum, according to the Times. 
- While David Davis has said that he is prepared to join Eurosceptic MPs and
vote against the Government next week in a move that could force ministers into
a climbdown.
- The crucial Trade and Customs Bill is expected to be debated in the House of
Commons this week and there are some rumours that the UK government could accept
amendments to get Brexiteers on her side.