In what is otherwise a quiet day for...>

GILT SUMMARY: In what is otherwise a quiet day for data and news flow, focus is

on the pound which continues to take the brunt of rising no-deal Brexit

expectations. Cable currently trades at 1.2186, off a morning low of 1.2219.

- The Sep-19 gilt future trades at 132.59, up 12 ticks from Monday's close and

17 ticks off the day's high; L-H: 132.38-132.76.

- Gilts have rallied with yields 0-2bps lower on the day. Cash yields (Last / 1d

chg / L..H): 2Y (0.4505% / -1.3bp / 0.4501%...0.459%); 5Y (0.4217% / -1.7bp /

0.4211%...0.4308%); 10Y (0.6399% / -1.3bp / 0.6383%...0.6478%); 30Y (1.3464% /

+0.7bp / 1.3436%...1.3537%). 2s10s (17.9bp / -0.4bp / 17.7bp..18.9bp); 2s30s

(88.5bp / 1.5bp / 86.8bp..88.9bp).

- Short sterling futures have broadly rallied with greens outperforming: W

(broadly + 0.0/1.5 ticks higher); R (+ 1.5/2.0 ticks); G (+ 1.5/2.0 ticks); B (+

0.5/2.0 ticks)

- Next up on the data calendar will be the GfK Consumer Confidence indicator and

Nationwide House Price Index for July, which will be published tomorrow.