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5s30s 73.2bp still in focus

GILTS
  • We are today within touching distance of the 73.2bp level for gilt 5s30s we flagged up last week (although the curve is marginally steeper on the day now after opening a bit flatter).
  • The 73.2bp level corresponds to the 50% retracement of the March 2020 low to the March 2021 high.
  • Below here, the August 2020 low of 70.3bp would provide the next support.


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