Labour's National Executive............>

GILT SUMMARY: Labour's National Executive Committee shied away from backing a

second referendum on any Brexit deal agreed with the Conservative Party, which

drew immediate criticism from grassroots supporters and many Remain-leaning

backbenchers.

- This could suggest that the prospects of a cross-party deal being reached in

the short term may have improved, particularly given PM May's declaration

yesterday that she would like discussions to be concluded by the end of next

week.

- There has been limited movement in gilts so far, with yields hovering around

yesterday's closing levels. Current yield levels: 2-year 0.756%, 5-year 0.903%,

10-year 1.182%, 30-year 1.689%.

- The Jun-19 gilt future trades at 127.28 and 6 ticks off the low. 

- Short sterling futures are 0.5-1.5 ticks lower on the day.

- Today will see the release of consumer credit, money supply and mortgage

approvals data, as well as the manufacturing PMI, which will be published at

0930BST.