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Two pivotal parliamentary votes have...>

GILT SUMMARY: Two pivotal parliamentary votes have failed to make a material
dent in the gilt market, which is still trading within normal daily ranges. 
- Following yesterday's defeated no-confidence motion, Chancellor of the
Exchequer Philip Hammond has told business executives that MPs will prevent a
no-deal scenario. However, the path to Brexit is no clearer, not least given the
refusal by opposition leader Jeremy Corbyn to begin direct talks with PM May. 
- Yields at the longer-end of the gilt curve are trading in the middle of the
day's ranges, with the curve steepening slightly since the open. The 2s30s
spread has widened a touch to 99.3bps from a low of 97.9bps.
- The Mar-19 gilt future trades at 122.81, 11 ticks off the high.
- Inflation breakevens have traded lower with the 5-year benchmark dropping to
3.095% from 3.155%.
- Short sterling futures are trading 1-2 ticks higher.
- Next up on the data calendar will be retail sales for December (key to watch
given reports of a disappointing Christmas session for retailers), which will be
published tomorrow. 

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