The 1.75% Jul-19 gilt matured today....>

GILT SUMMARY: The 1.75% Jul-19 gilt matured today. It has a size of Stg36.5bln

of which Stg3.77bln is held by the BoE. The BoE bought Stg1.28bln of short-dated

gilts today and will follow up with Stg1.28bln of long-dated gilts on Tuesday 23

July and a further Stg1.28bln of medium-dated gilts on Wednesday 24 July.

- According to the NIESR, the UK's planned exit from the EU may have already

triggered a technical recession. 

-There are no top tier data releases due out this week. The CBI Trends survey

for July will be published tomorrow.

- The Sep-19 gilt future trades at 131.7, up 21 ticks from Friday's close and 5

ticks off the day's high; L-H: 131.36-131.75.

- Gilts have rallied with yields 0-2bps lower on the day. Cash yields (Last / 1d

chg / L..H): 2Y (0.5% / -0.2bp / 0.4916%...0.5031%); 5Y (0.496% / -1.4bp /

0.4933%...0.5%); 10Y (0.7162% / -1.7bp / 0.7132%...0.7204%); 30Y (1.3365% /

-2.3bp / 1.3316%...1.339%).

- Short sterling futures have broadly rallied with greens outperforming: W

(trades mixed); R (+ 1.0/2.5 ticks); G (+ 2.5/3.0 ticks); B (+ 2.5/3.0 ticks)