Having opened higher at the open,......>

GILT SUMMARY: Having opened higher at the open, gilts have lacked direction

through the remainder of the session. 

- Concerns about infection rates in the US and China have underpinned today's

equity losses.

- The Sep-20 gilt future trades at 137.28, 11 ticks of the day's low

- Gilts yields have drifted higher through the day and are now within 1bp of

Friday's closing levels. Last yields: 2-year -0.-459%, 5-year -0.00358, 10-year

0.1949%, 30-year 0.5904%.

- Short sterling futures are broadly flat on the day.

- Despite the aforementioned concerns about global infection rates, for the time

being there appears no change in the government's strategy to reverse course on

easing lockdown measures. Non-essential shops re-opened today and the government

is said to be reconsidering the 2m social distancing rule.