Having clawed back the early losses....>

GILT SUMMARY: Having clawed back the early losses by late morning, gilts sold

off again heading into the afternoon with yields now back towards the day's

highs.

- The Sep-20 gilt future trades at 137.07, 3 ticks off the day's low.

- Cash gilts now trade slightly mixed on the day with the very long end still

holding on to some of earlier gains, while yields across the rest of the curve

are a touch above yesterday's closing levels. 

- Current yield levels: 2-year -0.0286%, 5-year 0.0104%, 10-year 0.2094%,

30-year 0.6145%.

- According to reports from the FT, the ministry of finance is expected to

announce that employers will need to cover 20% of worker furlough costs from

August. 

- The data calendar will remain light tomorrow with the only release of note

being the Lloyds Business Barometer print for May.