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A Little Firmer Alongside Global Peers

GILTS

Gilt futures look to the uptick in core global FI peers at the open, allowing the contract to move back to the middle of yesterday’s range, last up 5-10 ticks around 100.30.

  • Cash gilt yields are 2.5-3.5bp lower, with a light flattening bias seen.
  • There hasn’t been much in the way of meaningful headline flow over the last few hours, with UK news flow particularly light since yesterday’s close.
  • U.S. CPI data and 30-Year Tsy issuance present the broader macro highlights today.
  • Expectations surrounding firm demand at today’s Irish syndication and a step down in the rate of EUR issuance (vs. the last two days) will be helping EGBs as well.
  • SONIA markets haven’t moved much vs. pre-gilt open levels.
  • The local docket is essentially empty today.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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