The government has abandoned an........>

GILT SUMMARY: The government has abandoned an earlier promise to list the Brexit

deal for debate in the first week of June, while maintaining that it still hopes

to present the bill to parliament next week. 

- Decision making is becoming increasingly chaotic and reflects the untenable

position of PM May who is desperately clinging to power. 

- The Jun-19 gilt future trades at 129.93, near best levels; L-H: 129.39-129.97.

- The gilt rally has continued through the afternoon with yields 5-6bps lower on

the day. Cash yields (Last / 1d chg / L...H): 2Y (0.6401% / -4.5bp /

0.6348%...0.6594%); 5Y (0.7106% / -6.2bp / 0.7049%...0.7343%); 10Y (0.9529% /

-6.1bp / 0.9482%...0.9799%); 30Y (1.5169% / -5.5bp / 1.5129%...1.5454%).

- The curve has bull flattened: 2s10s (30.2bp / -1.8bp / 30.2bp...31.4bp); 2s30s

(86.7bp / -1bp / 86.6bp...88.3bp).

- The short sterling futures strip has flattened: W (+ 0.5/5 ticks); R (+ 6/7

ticks); G (+ 7/7.5 ticks); B (+ 7.5/8 ticks).