Gilts have ticked higher at the open...>

GILT SUMMARY: Gilts have ticked higher at the open with the yield curve shifting

lower by around 1bps taking cue from mild recovery in US Treasuries overnight

and positive opening in German Bunds. 10-yr Gilt yield is 1bp lower at 1.45%.

- Overnight saw UK GfK consumer confidence bounce off record lows and hit -9 the

highest level since M
January, more than the -0.4% expected, but easing from -0.6% y/y seen in
December.
- PM Theresa May, visiting China, tried to push back against speculation that
she may quit saying she is no quitter and insisting she would fight the next
general election.
- Some in the market thought BoE Governor Mark Carney's comments yesterday at
the Lords committee were on the hawkish side as he said that the UK "has moved
into a more conventional area for monetary policy", with the focus increasingly
on getting inflation back to target.
- Little further data from the UK today so attention will be on Eurozone flash
CPI at 1000GMT and then US ADP numbers at 1315GMT.