PM Boris Johnson has told French.......>

GILT SUMMARY: PM Boris Johnson has told French President Emmanuel Macron that

the contentious Irish backstop must be removed from the Brexit deal. This

follows comments yesterday from Michel Barnier yesterday in which the EU's chief

Brexit negotiator called Johnson's backstop demands "unacceptable".

- The Sep-19 gilt future trades at 132.04, up 19 ticks from Thursday's close and

3 ticks off the day's high; L-H: 131.79-132.07.

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

chg / L..H): 2Y (0.4789% / -1.9bp / 0.4751%...0.4829%); 5Y (0.4731% / -1.7bp /

0.4694%...0.4771%); 10Y (0.6882% / -2bp / 0.6853%...0.6948%); 30Y (1.3448% /

-1.3bp / 1.3407%...1.3495%).

- The short sterling futures strip has flattened: W (trades mixed); R (+ 0.5/1.0

ticks); G (+ 1.5 tick); B (+ 1.5/2.0 ticks).