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- The newsflow has been light today,...>

GILT SUMMARY
GILT SUMMARY: - The newsflow has been light today, with the main headline to
cross the wires concerning comments from Justice Secretary David Gauke in which
he claimed it would be "very difficult" for him to remain in PM Theresa May's
government in the event of a no-deal Brexit.
- The gilt market has lacked direction, with the early morning rally reversing
from 0930GMT. The 2-year benchmark yield trades at 0.753% up from a low of
0.732% and near the high's of the day, while the 10-year yield has pushed up to
1.300% from a low of 1.275%.
- There has been little movement in the curve with the 2s10s spread trading at
53.2bps and 2s30s at 105.3bps.
- Yesterday's drawdown in inflation breakevens has stabilised, with limited
movement in the 5-year and 10-year breakevens.
- The short sterling futures strip has steepened with greens/blues down 4.0-4.5
ticks.
MarketsFixed Income Bullets
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