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Gilts have pared some of its opening..........>

GILTS: Gilts have pared some of its opening losses, but remain in negative
territory, weighed by US 10-yr yield rising back above the 3% level and
expectations of the launch of a new ultra long conventional Gilt. 10-yr Gilt
yield is 0.5bp higher at 1.484%.
- Gilts possible also seen underpinned by continued concern over the Brexit
negotiations with the Telegraph reporting that PM Theresa May has admitted to
Conservative MPs that Brexit negotiations are at an impasse because neither of
her current options for a customs deal with the EU will work.
- Main event today will be release of March labour data at 0830GMT and if there
has been another rise in average weekly earnings. While markets will also be
keeping an eye out for possible launch of a new 2071 Gilt via a syndication
- Short sterling strip is little changed so far Tuesday.

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