There has been a flurry of.............>

GILT SUMMARY: There has been a flurry of Brexit-related headlines hitting the

wires this afternoon, none of which provide any substantive insight on how the

current impasse will be breached. 

- PM May has set out what she requires (to gain support in parliament) in terms

of legally binding changes to the Withdrawal Agreement, while European

Commission President Jean-Claude Juncker has reiterated that the EU will not

reopen the existing deal. Dashing already thin hopes of a near-term resolution,

European Council President Donald Tusk has stated that no breakthrough is in

sight.

- There has been little discernible reaction in gilts, which had been buoyed

earlier in the day by the EC's downbeat assessment of global economic growth and

the BoEs forecast downgrade to UK 2019 growth.

- Yields are ~2-4.5bp lower on the day. Current yield levels: 2-year 0.705%,

10-year 1.174%, 30-year 1.696%. The Mar-19 gilt future trades at 124.04 near the

middle of the day's range.

- Short sterling futures are 2.5-4.0 ticks higher.