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Gilts look set to closer modestly......>

GILT SUMMARY
GILT SUMMARY: Gilts look set to closer modestly lower with yield curve shifting
around 2.5bp higher across the board as markets digest latest Brexit news and US
data in thin trade.
- 2-yr Gilt yield is +2.3bp at 0.767%, 5-yr +2.3bp at 1.051%, 10-yr +2.5bp at
1.297%, 30-yr +2.3bp at 1.749% & 50-yr +2.3bp at 1.601% according to Tradeweb.
- Gilts edge lower at start of trade as markets digested latest Brexit news that
one senior conservative, Justine Greening, supported calls for a 2nd EU
referendum. However comments from PM May's spokesman that there will be no 2nd
referendum under any circumstances then saw Gilts pare losses.
- Gilts initially ticked higher in response to US Empire Mfg and retail sales
data, however, reversed tack and slipped to session lows as markets factored in
upward revisions to retail sales and news broke that the UK government were to
accept the four amendments to the Customs Bill put forward by Tory Brexiteers.
- Markets took this as cooling political tensions for now, but more battles lay
ahead. No negative news stemming from Trump/Putin meeting also seen weighing.
- White/red are Sstg futures steady to +1 tick, greens/blues steady to -2 ticks

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