 Hello, welcome to this week's CBC Markets Treasury Snapshot with myself, Jasper Lawler. We're going to be looking at UK Guilts. Now there's a lot of focus on the moment on the British pound because of the risk of a British exit from Europe, the Brexit. So we want to see how it can affect bond markets if at all. So at the moment, we're seeing guilt prices rise. Now that's broadly in line with the rest of the bond market because there's a bit of a flight to safety going on. Bonds typically seen as some of the most safe assets to own, especially when there's a stock market sell-off. Now there's the other particular prospect with the Bank of England set to keep interest rates low for a long period of time. Guilt yields, which are opposite to the price, have started to come down. And they're actually some of the lowest levels that we've seen in quite a while. And so we've got those two factors driving the price higher. But if we have a look at this daily chart, sorry, this is a weekly chart for UK Guilts, you'll be able to see that this 124 level has been quite a critical ceiling for a while. Now odds are that we can push through this, particularly with the Brexit risk, pushing even bigger flight to safety. But one factor we could perhaps consider is that if there is a mass flood out of UK assets, people will be selling UK bonds, perhaps going into European bonds ahead of ECB easing in March, potentially, and then in which case that would see this resistance holding around the 124 level. So that's it for this week's TMC Markets Treasury Snapshot. Now we were focusing on Guilts, of course, the main consideration being at the moment the Brexit risk. Now it's still four months away at this point, so the fears may ebb away a bit, but overall we are seeing some flight to safety in the bond market. So we're going to look to see if this 124 on the UK Guilt Chart could hold. If it doesn't, we could see considerably higher prices.