- Gilts have sold off slightly since...>

GILT SUMMARY: - Gilts have sold off slightly since mid-morning.

- The benchmark 2-year gilt yield has edged up to 0.7258% from a morning low of

0.7141% while the 10-year is up to 1.2791% from 1.2660%.

- The curve is relatively flat on the day. The 2s10s spread trades at 54.8bps

and the 2s30s at 102.4bps.

- Market-based measures of inflation expectations are broadly unchanged with the

5- and 10-year inflation breakevens holding just about 3.0%.

- The only significant data point to be published today was the volume of loans

approved for house purchase, which came in at 39,584 and below the 40,650

consensus.

- The latest Brexit intervention comes from the World Trade Organisation

Director-General Roberto Azevedo  who has argued that it is "not realistic" that

the UK can begin trading under WTO rules the day after leaving the single

market.