PM Boris Johnson is reportedly close...>

GILT SUMMARY: PM Boris Johnson is reportedly close to presenting his proposed

Brexit deal to the EU and has stated that there will be no customs checks in

Ireland. 

- Secretary of State for Business, Energy and Industrial Strategy Andrea Leadsom

has argued for a wave of deregulation after Brexit. Her comments follow recent

remarks from Trade Secretary Lizz Truss who wants a low-tax regime after the UK

leaves the EU.

- The Dec-19 gilt future trades at 134.33, up 9 ticks from Monday's close and

trading near best levels; L-H: 133.3-134.39.

- Gilts trade mixed with yields trading in a 7-8bp range. Cash yields (Last / 1d

chg / L..H): 2Y (0.3397% / -2.4bp / 0.3315%...0.4023%); 5Y (0.2589% / -2.1bp /

0.2519%...0.3215%); 10Y (0.4842% / +0.1bp / 0.4782%...0.5588%); 30Y (0.9798% /

+0.7bp / 0.9755%...1.0573%). The curve has steepened: 2s10s (13.7bp / 2.8bp /

13.5bp..15.1bp); 2s30s (63.3bp / 3.1bp / 62.9bp..65.1bp).

- The short sterling futures strip has flattened: W (flat/+0.5 ticks); R

(broadly + 0.0/0.5 ticks higher); G (+ 0.5/1.0 ticks); B (+ 0.5/1.5 ticks).