The Speaker of the House of Commons....>

GILT SUMMARY: The Speaker of the House of Commons has granted an emergency

debate (requested by Shadow Brexit Secretary Keir Starmer) on the proposed

Brexit extension, which is currently underway.

- PM Theresa May has officially sent a let to the EU requesting a short

extension to June 30. 

- There are rumours that PM May will make a public address outside of 10 Downing

Street this evening. Previous public addresses have been used to update the

public on government policy. However, with the political crisis intensifying,

there is a non-negligible probability of a wildcard event such as May announcing

the future date of her departure. 

- Gilts have rallied through the day and the curve has flattened on the back of

the long-end outperforming. Yields are 1-4bp lower on the day. Current yield

levels: 2-year 0.731%, 5-year 0.897%, 10-year 1.151%, 30-year 1.627%. The 2s30s

spread has narrowed 3bp since yesterday's close.

- The Jun-19 gilt future trades at 127.57 and near the highs of the day.

- Short sterling futures are 1.0-4.0 ticks higher.