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A Little Firmer Post-Auction

GILTS

Gilt rally as today’s auction sees decent enough demand metrics (albeit not as strong as the Jan offering of the line) and any related hedging flow passes. Core global FI also trades on the front foot. Moves are relatively modest in the grand scheme of things.

  • Gilt futures trade as high as 98.77, initial resistance at 99.35, the Mar 14 high.
  • Gilt yields 3-4bp lower, 5s lead the rally.
  • Gilts outperform global peers across all tenors.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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