The UK has reported the biggest one....>

GILT SUMMARY: The UK has reported the biggest one day increase in coronavirus

cases, up 407 to 1950. The latest figures immediately following UK PM Boris

Johnson's decision to begin restrict social movement. 

- The UK's chief scientific adviser earlier warned that as many as 55,000

Britons could already have the virus. 

- The Jun-20 gilt future trades at 134.75, down 27 ticks from Monday's close and

28 ticks off the day's high; L-H: 134.17-135.03.

- Gilts have sold off with yields 2-5bps higher on the day. Cash yields (Last /

1d chg / L..H): 2Y (0.2487% / -0.7bp / 0.2248%...0.2655%); 5Y (0.3856% / +4.5bp

/ 0.3606%...0.402%); 10Y (0.486% / +5.3bp / 0.4603%...0.5037%); 30Y (0.9628% /

+3.9bp / 0.9405%...0.9807%).

- The curve has steepened: 2s10s (22bp / 6.2bp / 19.5bp..22.1bp); 2s30s (69.6bp

/ 4.7bp / 69.5bp..73.2bp).

- The short sterling futures strip has steepened: W (- 0.5/1.5 ticks); R (-

0.5/1.5 ticks); G (- 1.0/1.5 ticks); B (- 1.5/2.5 ticks).