The government is set to table a.......>

GILT SUMMARY: The government is set to table a motion in parliament later today

to trigger an early election. The motion is expected at around 1730GMT with a

vote taking place around 1900GMT. The shadow cabinet has indicated it will

abstain, but with a 2/3 majority required, the motion is unlikely to pass.

- The Dec-19 gilt future trades at 131.72, down 64 ticks from Friday's close and

7 ticks off the day's low; L-H: 131.65-132.31.

- Gilts have sold off with yields 2-5bps higher on the day. Cash yields (Last /

1d chg / L..H): 2Y (0.5399% / +2.2bp / 0.5162%...0.5448%); 5Y (0.505% / +2.9bp /

0.4766%...0.5088%); 10Y (0.7171% / +3.7bp / 0.688%...0.7232%); 30Y (1.2178% /

+5.1bp / 1.1861%...1.2231%).

- The curve has bear steepened: 2s10s (17.2bp / 1.6bp / 14.8bp..17.5bp); 2s30s

(67.2bp / 3bp / 63.8bp..67.5bp).

- The short sterling futures strip has steepened: W (- 0.5/2.5 ticks); R (-

2.5/4.5 ticks); G (- 4.0/4.5 ticks); B (- 4.5/5.0 ticks).