Gilts have underperformed both.........>

GILT SUMMARY: Gilts have underperformed both Treasuries and Bunds ahead of the

next round of Brexit votes later today. 2y gilts yields are 1.1bp higher on the

day and 10y yields 0.7bp higher as the curve has bear flattened.

- The key event of the day will be the Brexit votes later this evening, with the

amendments to be selected from the Speaker imminently. The key amendments are

likely to be Cooper-Boles which would rule out a no deal exit by effectively

forcing May to allow a vote to postpone the March 29 date until the end of 2019

if there is no deal in place by Feb 26. The Brady amendment is in support of

May's deal but only if there is an alternative to the Irish backstop.

- The votes will take place around 1900GMT today.