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The early rally in gilts lost..........>

GILT SUMMARY: The early rally in gilts lost momentum by mid-morning with yields
edging higher through the remainder of the session. Yields across most the curve
are now in line with yesterday's close. Elsewhere the dollar is on the backfoot
against G10 currencies while European equities have slowly built gains through
the day.
- The Sep-20 gilt future trades at 137.80, just 1 tick off the day's low.
- The gilt curve is now steeper on the day with the 2s10s spread 1bp wider.
Current yield levels: 2-year -0.1137%, 5-year -0.0769%, 10-year 0.1508%, 30-year
- The DMO earlier sold GBP6.0bn of 1-/3-/6-month T-bills.
- Looking ahead to next week, monthly GPP, industrial production, the index of
services and international data for May will be published on Tuesday. CPI for
June is released on Wednesday and labour market data for May/June is out on

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