While PM May's request to delay........>

GILT SUMMARY: While PM May's request to delay Brexit has further angered

eurosceptics at home who see it as risking the UK's departure from the EU

altogether, in Brussels the mood remains sceptical and suggests that the

extension request is by no means a done deal.

- The DUP has stated that the government's request for an Article 50 extension

was 'unsurprising but unsatisfactory' and comes on the heels of previous

criticism over PM May's deal. 

- Providing some indication that the EU could be willing to make side deals in a

no-deal Brexit scenario, Brussels has said that it wants a short-term fisheries

arrangement with the UK.

- Gilts have recouped some of the losses earlier in the session. Yields are

3-4bp higher on the day. Current yield levels: 2-year 0.702%, 5-year 0.851%,

10-year 1.1097%, 30-year 1.662%.

- The Jun-19 gilt future trades at 128.07 near the middle of the day's range.

- Short sterling futures are broadly 0.5-3.5 ticks lower in reds>blues.