The 10Y gilt future opened 22 ticks....>

GILT SUMMARY: The 10Y gilt future opened 22 ticks lower this morning likely on

the back of weakness in German Bunds, but  has since pared losses. The 2-10Y

part of the yield curve is marginally steeper and the 10-30Y part of the curve

is slightly flatter. 

- British PM Theresa May told MPs that there would be no Brexit transition

period without final EU trade deal according to the Guardian. There was concerns

that businesses "would start leaving the country" prior to a settlement being

reached.  

- BOE Deputy Governor Jon Cunliffe told Wales Online in an interview that

economic growth had clearly slowed and the question of when the first rate hike

will be is "an open question". He made it clear that he was not committed to

supporting a rate hike at the November meeting, although he did believe that

rates would eventually need to move higher.

- There is little in the way of major data releases today, however, UK

Chancellor Philip Hammond is due to answer questions in parliament at 1100BST.

- The 10Y gilt yield is currently trading 2.0bp higher 1.323%.