Gilts have opened slightly heavy, taking......>

GILTS: Gilts have opened slightly heavy, taking cue from fall in US Treasuries

overnight and continue to digest yesterday's important win for the government on

amendment to the EU Withdrawal Bill. 10-yr Gilt yield is 1.6bp at 1.306% with

the yield curve seen shifting higher. 

- BBC reports that PM May has welcomed the passing of the Brexit bill through

Parliament as "a crucial step" in delivering a "smooth and orderly Brexit" and

that more details on the future relationship between the UK and EU will be

released soon.

- Looking ahead public sector borrowing numbers for May cross the wires at

0930BST before Bank of England monetary policy decision and statement are

released at 1200BST.

- Bank is widely seen as keeping policy on hold today with markets looking out

for any signs that rates could be raised in August or be in wait and see mode as

current data has come in mixed. MNI PINCH currently sees a 48% chance of a 25bp

rate hike in August and a 85.5% chance of it coming in November.