With no-deal rhetoric continuing to....>

GILT SUMMARY: With no-deal rhetoric continuing to ramp up - amplified over the

weekend by Michael Gove who suggested it was now the government's working

assumption - the pound has taken a hit today. Cable trades at 1.2264, down from

a session high of 1.2399.

- The FTSE 100, however, has been given a lift as the weaker pound bolsters

earnings for multinationals listed on the benchmark.  

- The Sep-19 gilt future trades at 132.61, up 53 ticks from Friday's close and

14 ticks off the day's high; L-H: 132.21-132.75.

- Gilts have rallied with yields 2-5bps lower on the day. Cash yields (Last / 1d

chg / L..H): 2Y (0.4469% / -3.4bp / 0.4353%...0.4472%); 5Y (0.4246% / -4.8bp /

0.4133%...0.4248%); 10Y (0.6376% / -4.9bp / 0.6279%...0.6401%); 30Y (1.3245% /

-2.2bp / 1.3195%...1.335%). 2s10s (18bp / -1.2bp / 18bp..19.9bp); 2s30s (86.7bp

/ 1.4bp / 86.5bp..88.1bp)

- Short sterling futures have broadly rallied with greens outperforming: W (+

2.0/3.5 ticks); R (+ 4.5/5.0 ticks); G (+ 4.5/5.5 ticks); B (+ 5.0/5.5 ticks).