It has been a a choppy day for the.....>

GILT SUMMARY: It has been a a choppy day for the 10Y Mar-18 Gilt contract with

price swinging between 125.30-125.69 for the majority of the trading day. The

focus of the day remained on the Brussels Summit where EU leaders reached the

conclusion that sufficient progress had been made in order to move on to the

next phase of the talks.

- The yield curve has marginally flattened today and the 5-30Y spread is near

the lowest it has seen since Aug 2016.

- Later in the European afternoon Fox News reported that Marco Rubio is expected

to vote 'yes' on the tax bill. Although, this resulted in equities spiking

higher the reaction in the Gilt market remained fairly muted.

- 2-yr Gilt yield is -0.4bp at 0.442%, 5-yr -0.9bp at 0.702%, 10-yr -2.0bp at

1.154% and 30-yr -2.2at 1.710% according to Tradeweb.

- UK breakevens are mixed with the 5Y BE +0.8bp at 2.843%, 10Y BE +0.7bp at

3.021% and 30Y BE -1.3bp at 3.360%.