The 10Y Gilt yield opened higher.......>

GILT SUMMARY: The 10Y Gilt yield opened higher this morning on the back of as US

Treasuries move lower in overnight trading.

- British PM Theresa May urged EU leaders to move Brexit talks to the next stage

at a working dinner Thursday night. The PM is pushing for the Brexit divorce

talks between the EU and UK to move to the next step. However, EU leaders are

expected to say that insufficient progress has been made on citizens' rights,

the UK's financial obligation and the border in Northern Ireland to move to the

second stage according to the BBC.

- There was also comments from European Commission President Jean-Claude Juncker

that the UK and EU will not end up with a no deal Brexit scenario.  

- 2-yr Gilt yield is +0.7bp at 0.418%, 5-yr +1.7bp at 0.744%, 10-yr +2.5bp at

1.293% and 30-yr +1.5bp at 1.858% according to Tradeweb.

- There is little in terms of UK data today except for the public sector net

borrowing that is due to come out at 0930BST.

- Swap spreads are trading mixed this morning with the 2Y spread 1.2 wider and

breakevens are in the region of 0.5bp wider.