RESEND: Gilts have traded lower this...>

GILT SUMMARY: RESEND: Gilts have traded lower this morning as cross-party Brexit

talks have been taking place before PM May meets Cabinet ministers individually

at Number 10 ahead of Chequers. 

- The Mar 19 Gilt future is down 8 ticks at 120.74, having traded in a range of

127.62-128.27 today. 

- Reports have just emerged that the cross-party talks have now finished,

somewhat early than expected. Downing Street have said there is "nothing in the

diary" for more meetings with opposition MPs over the weekend, but gave no

indication over whether any progress was made towards finding a solution to

May's Brexit deal. 

- Across the curve most of the action this morning has been seen in the long end

where the 10-yr yield fell by 0.8bps to 1.345%. The long end has underperformed

the short ends, yields are up in the longer dated maturities. 

- The 2s10s is 2.1bps steeper, 5s30s 0.4bps steeper. 

- Retail sales data for December this morning was worse than expected, showing a

contraction of 0.9% M/M.