The Sep-19 gilt future trades at.......>

GILT SUMMARY: The Sep-19 gilt future trades at 130.41, down 5 ticks from

Thursday's close and 13 ticks off the day's high; L-H: 130.26-130.54

- Gilts have lacked direction with yields ~1bp higher on the day. Cash yields

(Last / 1d chg / L..H): 2Y (0.6077% / +1.4bp / 0.6061%...0.6197%); 5Y (0.6281% /

+1.3bp / 0.6264%...0.6401%); 10Y (0.8316% / +1.1bp / 0.8296%...0.8444%); 30Y

(1.4692% / +1bp / 1.466%...1.4803%).

- The curve has marginally bear flattened: 2s10s (21.3bp / -0.3bp /

20.8bp..21.9bp); 2s30s (85.1bp / -0.4bp / 84.7bp..85.6bp)

- Short sterling futures have broadly sold off with reds underperforming: W

(broadly - 0.0/1.5 ticks lower); R (+ 2.0 tick); G (- 1.5/2.0 ticks); B (-

1.5/2.5 ticks)

- Looking ahead, next week will see the publication of consumer credit, money

supply, PMI and house price data.