It has been pretty much a..............>

GILT SUMMARY: It has been pretty much a non-descript day in Gilts with yields

barely changing with market seen side-lined ahead of key ECB GC meeting tomorrow

and lack of news on North Korea. There was surprise rise in Canadian interest

rates, but this had little impact on Gilts.

- 2-yr Gilt yield is +0.1bp at 0.183%, 5-yr -0.4bp at 0.425%, 10-yr -0.2bp at

1.017% and 30-yr Gilt -0.4bp at 1.683% according to Tradeweb.

- Dec Gilt future opened higher taking cue from late rally in US Treasuries on

continued geo-political risk in N.Korea, however, this faded quickly and the

future dropped to unchanged levels within an hour of trading.

- Gilts spiked higher but then quickly dropped to fresh session lows as markets

picked up on what turned out to be an erroneous tweet from the British

Geological Society saying there was an earthquake in North Korea.

- Gilts gradually picked themselves off session lows as NY traders got to their

desk and then saw some buying in wake of strong cover at BoE 7-/10-yr APF

re-investment operation. However light selling then seen after BoC surprised

markets with a 25bp rate rise and then 2-way flow after Fed Fischer resignation.