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There is a near no basis point.........>

GILT SUMMARY
GILT SUMMARY: There is a near no basis point change in Gilt yields across the
curve so far Friday, with markets seen side-lined ahead of Fed Chair Yellen and
ECB President Draghi comments at the Jackson Hole Symposium later today.
- There is also a dearth of UK economic data released today with only German IFO
numbers at 0800GMT the only release seen to keep traders interested in markets
this morning.
- Fed Chair Yellen is scheduled to speak at 1400GMT on financial stability, but
markets are hoping for some comments on monetary policy, be it interest rates or
reduction in Fed's balance sheet.
- While ECB President Draghi does not talk until 1900GMT, well after European
markets have gone home for the weekend and Gilt traders have vacated seats for
an extra-long bank holiday weekend, but is not expected to touch on current
thinking on its QE programme.
- 10-yr Gilt yield is at 1.060%, up 0.3bps, but markets are very thin and
illiquid.

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