Gilts pretty much remained in upper....>

GILT SUMMARY: Gilts pretty much remained in upper range in London afternoon

session and look to close Monday modestly higher, with the 5-year to 10-year

part of the yield curve seen outperforming late on. Volume has been low though

as markets await key Bank of England MPC monetary policy decision on Thursday.

- 2-yr Gilt yield is -1.3bp at 0.453%, 5-yr -2.1bp at 0.779%, 10-yr -2.2bp at

1.334% and 30y -1.6bp at 1.911% according to Tradeweb.

- The major move higher was seen in the morning session supported by weekend

press reports that Jerome Powell is likely to be chosen by Trump as the next Fed

Chair and then softer than expected German regional flash inflation data.

- There was a slight fade as BoE mortgage approvals and better than expected net

consumer credit weighed, but come the afternoon, prices ticked higher once more

as pan-German HICP came in even lower than expectations.

- Prices faded once more following tick higher in US personal spending and

Dallas Fed mfg activity, but the movement only brought in extra buyers, pushing

Gilts back up towards session highs.

- 2-yr Swap spreads are 2.7bp wider at 39bps, but remainder are little changed.