This morning's CPI print for August....>

GILT SUMMARY: This morning's CPI print for August came in below consensus (1.7%

Y/Y vs 1.9%). Although the BoE meets this week, no significant change in policy

is expected. 

- The government is today defending its decision to prorogue parliament in the

Supreme Court. The government's lawyer has argued that the decision to suspend

parliament was in the realms of politics and not law. He further argued that if

the court were to intervene in the matter it would violate the "fundamental

constitutional principle" of the separation of power between the courts and the

government.

- The Dec-19 gilt future trades at 132.35, up 36 ticks from Tuesday's close and

13 ticks off the day's high; L-H: 131.79-132.48.

- Gilts have rallied with yields 3-4bps lower on the day. Cash yields (Last / 1d

chg / L..H): 2Y (0.4924% / -3bp / 0.479%...0.4977%); 5Y (0.4618% / -3.4bp /

0.4467%...0.4671%); 10Y (0.6529% / -4.1bp / 0.6408%...0.6583%); 30Y (1.0993% /

-3.3bp / 1.0908%...1.1045%).