Gilts recovered quickly after..........>

GILT SUMMARY: Gilts recovered quickly after sinking around midday on news of a

proposed EU-UK post-Brexit customs deal, mirroring risk-off moves in equities.

- The Dec 18 Gilt future is up 38 ticks at 121.94, having traded in a range of

121.53-122.02 today.

- That 121.53 low was hit just before 1300BST, on an RTE report that the EU had

offered a post-Brexit UK-wide customs union, but the reaction was quickly

dispelled: "However, the EU, and the Irish Government still insist that a

Northern Ireland-specific backstop remains in place, even if a separate UK-wide

customs arrangement is negotiated".

- FTSE 100 equity index sinking alongside global equity weakness, last down 1.6%

at 6,930, around lows.

- The 2-Yr yield is down 2.1bps at 0.745%, 5-Yr is down 3.4bps at 1.064%, 10-Yr

is down 4.7bps at 1.48%, and 30-Yr is down 4.1bps at 1.883%.

- Short Sterling is a little stronger, with Blue contracts outperforming, up 3-4

ticks. 

- BOE's Carney due up shortly at a U of Toronto conference (1620BST).