diff --git a/CMakeLists.txt b/CMakeLists.txt
index a8fea578310..2dbd3b17d3f 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -3,7 +3,7 @@ project(eosio_wasm_sdk)
 
 set(VERSION_MAJOR 1)
 set(VERSION_MINOR 2)
-set(VERSION_PATCH 0)
+set(VERSION_PATCH 1)
 
 if (CMAKE_INSTALL_PREFIX_INITIALIZED_TO_DEFAULT)
    message(WARNING "CMAKE_INSTALL_PREFIX is set to default path of ${CMAKE_INSTALL_PREFIX}, resetting to ${CMAKE_INSTALL_PREFIX}/eosio.cdt")
diff --git a/README.md b/README.md
index f71dc0ed52b..0a324d412d2 100644
--- a/README.md
+++ b/README.md
@@ -1,5 +1,5 @@
 # EOSIO.CDT (Contract Development Toolkit)
-## Version : 1.2.0
+## Version : 1.2.1
 
 EOSIO.CDT is a toolchain for WebAssembly (WASM) and set of tools to facilitate contract writing for the EOSIO platform.  In addition to being a general purpose WebAssembly toolchain, [EOSIO](https://github.com/eosio/eos) specific optimizations are available to support building EOSIO smart contracts.  This new toolchain is built around [Clang 7](https://github.com/eosio/llvm), which means that EOSIO.CDT has the most currently available optimizations and analyses from LLVM, but as the WASM target is still considered experimental, some optimizations are not available or incomplete.
 
diff --git a/eosio_llvm b/eosio_llvm
index af6f920bfbb..31e1613c474 160000
--- a/eosio_llvm
+++ b/eosio_llvm
@@ -1 +1 @@
-Subproject commit af6f920bfbb0b52c51b1b9da5e67555693400118
+Subproject commit 31e1613c474cab51a80ac898ec31716273df3729