The Queen has consented to.............>

GILT SUMMARY: The Queen has consented to proroguing parliament, with the Queen's

speech taking place on October 14. 

- The decision to suspend parliament will reduce the amount of time available

for Remainer MPs to attempt to block a no-deal Brexit.

- The Sep-19 gilt future trades at 135.72, up 67 ticks from Tuesday's close and

trading near best levels; L-H: 135.06-135.74.

- Gilts have rallied with yields 3-6bps lower on the day. Cash yields (Last / 1d

chg / L..H): 2Y (0.3356% / -2.5bp / 0.3281%...0.3485%); 5Y (0.2874% / -3.7bp /

0.2818%...0.3006%); 10Y (0.4408% / -5.9bp / 0.4394%...0.457%); 30Y (0.9835% /

-5.4bp / 0.9816%...1.008%).

- The curve has bull flattened: 2s10s (8.9bp / -2.9bp / 8.9bp..12.4bp); 2s30s

(63.2bp / -2.4bp / 63.1bp..67.6bp).

- The short sterling futures strip has flattened:W (broadly + 0.0/4.0 ticks

higher); R (+ 3.5/4.0 ticks); G (+ 4.5/5.0 ticks); B (+ 5.0/5.5 ticks).