Gilts opened lower and have pretty.....>

GILT SUMMARY: Gilts opened lower and have pretty much traded sideways ever

since, with volumes around half of current average as a number of Asian markets

were closed for Lunar New Year and US is closed for President's Day Holiday.

Yield curve is seen pivoting around the 10-yr point.

- 2-yr Gilt yield is +0.8bp at 0.668%, 5-yr +1.1bp at 1.064%, 10-yr +2bp at

1.601%, 30-yr +1.3bp at 1.987% and 50-yr +1.3bp at 1.772%.

- There was some positive responses from PM May's speech on security after

Brexit over the weekend and the feeling is that the UK's direction following the

split is gradually becoming clearer. Although Guy Verhofstadt warned that there

would only be an "annex" inside the withdrawal agreement as a Brexit trade deal

would not be agreed by October, this is probably the best the UK could expect.

- With US closed, attention will be on comments from BoE Carney are due at

1745GMT today when he gives a speech at Regent's University. While first major

UK data will not be released until Wednesday when latest public sector borrowing

numbers cross the wires.