The risk-off theme has persisted.......>

GILT SUMMARY: The risk-off theme has persisted through the day with global

currencies broadly losing ground against the dollar and equities under pressure.

Gilts trade close to unch at the short end, while the longer end has rallied.

- Current gilt yield levels: 2-year -0.0655%, 5-year -0.0161%, 10-year 0.2065%,

30-year 0.6589%.

- The Sep-20 gilt future trades at 137.15, 5 ticks off the day's high.

- Short sterling futures are flat/1.0 ticks lower in whites/reds and flat/0.5

ticks higher in greens/blues.

- The DMO earlier sold GBP3.25bn of the 2.75% Sep-24 Gilt and GBP1.50bn of the

1.625% Oct-54 Gilt. A further GBP268.25mn of the 1.625% Oct-54 Gilt was sold

through the PAOF facility, with no additional take up of the 2.75% Sep-24 Gilt.

- Tomorrow will see the release of CBI Reported Sales for June, with the data

calendar then light for the remainder of the week.