Gilts have traded largely sideways.....>

GILT SUMMARY: Gilts have traded largely sideways this morning, with Brexit

related headlines over an extension to the Brexit deadline providing the main

talking points of the day. 

- EU's Donald Tusk has reiterated his stance that the EU27 will not make a new

offer on Brexit, but stated that the most important task was avoiding a no-deal.

- Theresa May has been in Northern Ireland trying to find solutions to the ever

contentious Irish backstop. N.Irish UUP leader Swann commented that May "spoke

to us about putting a time limit on the backstop", adding that they "don't see a

time limit as being the answer".      

- The Mar-19 Gilt future up 6 ticks on the day at 123.58, close to the middle of

it's range after early morning highs of 123.75.

- The has flattened throughout, yields are down 0.5 to 1.4bps in-between the

2yr50yr section.   

- Elsewhere the FTSE100 is trading down today, breaking a six-day winning streak

after U.S. President Trump offered little signs of progress in China talks in

his State of Union address.