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PM Theresa May's plan to secure a......>

GILT SUMMARY
GILT SUMMARY: PM Theresa May's plan to secure a short Article 50 extension
appears to have been rebuffed by EU leaders with reports now suggesting that the
UK will be offered a far lengthier extension - perhaps as long as a year. 
- France has indicated that under this scenario the UK would need to meet strict
conditions to prevent Westminster interfering with EU business.
- Brexit secretary Stephen Barclay has refused to be drawn into speculating on
whether PM May should resign in the event that she agrees to a long extension.
- Gilts have sold off since the open with yields ~2bp higher on the day. Current
yield levels: 2-year 0.712%, 5-year 0.861%, 10-year 1.121%, 30-year 1.651%.
- The Jun-19 gilt trades at 127.96, 3 ticks off the day's low.
- Short sterling futures are 0.5-1.5 ticks lower.
- Manufacturing production, construction output and monthly GDP for February
surprised higher, while the index of services printed in line with consensus. 

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