- It has been a relatively quiet.......>

GILT SUMMARY: - It has been a relatively quiet session so far with no

significant Brexit-related news hitting the wires and just one insignificant

data release (UK Finance Loans for Housing).

-  The gilt rally lost momentum by mid-morning with yields holding near the lows

of the day. The 2-year yield trades at 0.741% down from 0.764% and the 10-year

trades at 1.280% down from 1.314%.

- The long-end has outperformed slightly, with the curve flattening. The 2s10s

spread has traded down to 52.6bps from 54.1bps and the 2s30s has narrowed to

105.0bps from 106.0bps.

- Inflation breakevens are holding steady.

- The short sterling futures strip is broadly 0.5-3.0 ticks lower.

- There is now a pause in the data calendar, with the next release being the

Manufacturing PMI for December which will be published on January 2.