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A slightly surprising open for Gilt

GILTS
  • A bit of a surprise on the Gilt open, as the contract actually opened inline to where it should have been against the Bund and Tnotes, range call would have been 99.85/99.93, so ignoring the UK Data and the early pressure on the Sonia strip as well as the bid in the Pound.
  • Early focus for Gilt will now turn to the UK £3bn 2038 supply.

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