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

GILT SUMMARY: The Sep-19 gilt future trades at 131.35, up 14 ticks from

Thursday's close and 8 ticks off the day's low; L-H: 131.27-131.49.

- Gilts have been relatively directionless this afternoon with yield 0-1bps

lower on the day. Cash yields (Last / 1d chg / L..H): 2Y (0.5159% / -0.4bp /

0.5071%...0.5171%); 5Y (0.5242% / -0.9bp / 0.5153%...0.526%); 10Y (0.747% /

-1.1bp / 0.7382%...0.7488%); 30Y (1.3738% / -1bp / 1.3652%...1.3754%).

- The curve is close to flat: 2s10s (22bp / -0.2bp / 21.9bp..2.4bp); 2s30s

(84.6bp / -0.2bp / 84.6bp..85.6bp).

- The short sterling futures strip has flattened: W (broadly + 0.0/0.5 ticks

higher); R (broadly + 0.0/1.0 ticks higher); G (+ 1.0/1.5 ticks); B (+ 1.0/1.5

ticks)

- The data calendar will be light next week with just CBI trends and UK Finance

Loans for Housing.

- The winner of the UK Conservative leadership race wail be announced on July

23, with the outgoing PM Theresa May participating in her final prime minister's

questions before heading to Buckingham Palace to resign.