Scottish Tory leader Ruth Davidson.....>

GILT SUMMARY: Scottish Tory leader Ruth Davidson has formally announced her

resignation following the PMs prorogation decision. Davidson was central to the

Tory wins in Scotland. Her loss would leave the Conservatives even more

vulnerable in Scotland in the event of a snap election.

- Leader of the House of Commons Jacob Rees-Mogg has defended the prorogation

and challenged the government's critics to try and collapse the government.

- The Sep-19 gilt future trades at 135.74, down 5 ticks from Wednesday's close

and 13 ticks off the day's high; L-H: 135.52-135.87.

- Gilts trade mixed with yields trading in a 1bp range on the day. Cash yields

(Last / 1d chg / L..H): 2Y (0.3567% / +1.9bp / 0.3462%...0.3596%); 5Y (0.2931% /

+0.9bp / 0.2888%...0.2982%); 10Y (0.4359% / -0.5bp / 0.4327%...0.4404%); 30Y

(0.9855% / -0.4bp / 0.9833%...0.9904%).

- The curve has flattened: 2s10s (6.2bp / -2.3bp / 6.2bp..8.7bp); 2s30s (61.1bp

/ -2.2bp / 61.1bp..63.6bp).

- Short sterling futures have broadly sold off with greens underperforming: W

(trades mixed); R (- 0.5/1.0 ticks); G (- 1.5/2.0 ticks); B (- 1.0/1.5 ticks).