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Headline risk will remain pronounced...>

GILT SUMMARY
GILT SUMMARY: Headline risk will remain pronounced this week as UK PM Theresa
May attempts to sell her withdrawal arrangement to MPs and the business
community at the same time that rebel backbenchers are plotting to trigger a
leadership contest. 
- It has been a relatively quiet start to the week for the gilts. The 2-year
yield trades at 0.732% up from a low of 0.721% and the 10-year trades at 1.426%
up from 1.416%.
- The curve has steepened slightly with the 2s10s spread widening to 68.6bps
from a low of 67.4bps.
- The Dec gilt future trades at 122.61 off a morning low of 122.54
- The 3m LIBOR-OIS has widened since the beginning of November and the 5-year
credit default swap has ticked higher.
- Cable trades at 1.2864 and is holding within a relatively tight range. 
- The short sterling futures strip is broadly 2.0 ticks lower.

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