PM Boris Johnson is due to meet........>

GILT SUMMARY: PM Boris Johnson is due to meet European Commission President

Jean-Claude Juncker for their first Brexit talks on Monday. 

- Chancellor of the Exchequer Sajid Javid has stated that the government will

follow the law on Brexit, while also arguing that the UK will still leave the EU

on October 31.

- The Dec-19 gilt future trades at 131.4, down 111 ticks from Thursday's close

and trading near worst levels; L-H: 131.37-132.04.

- Gilts have sold off with yields 3-7bps higher on the day. Cash yields (Last /

1d chg / L..H): 2Y (0.5614% / +2.9bp / 0.5539%...0.5697%); 5Y (0.547% / +5.5bp /

0.5228%...0.5494%); 10Y (0.7353% / +6.5bp / 0.7035%...0.7379%); 30Y (1.188% /

+5.5bp / 1.1578%...1.1903%).

- The curve has bear steepened: 2s10s (16.1bp / 3.9bp / 12.2bp..16.1bp); 2s30s

(61.3bp / 2.8bp / 57.6bp..61.4bp).

- The short sterling futures strip has steepened: W (- 1.0/6.0 ticks); R (-

6.5/8.5 ticks); G (- 8.5/10.0 ticks); B (- 9.5/10.0 ticks).