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Back To Flat

GILT SUMMARY

Gilts traded firmer from mid-morning to early afternoon before selling off back towards Thursday closing levels.

  • Last yields: 2-year 0.0376%, 5-year 0.3124%, 10-year 0.7441%, 30-year 1.2728%. The curve similarly trades flat overall.
  • The Jun 21 gilt future trades at 128.65, 4 ticks off the day's low.
  • Short sterling futures are 0.5-2.5 ticks lower in whites/reds/greens/blues
  • Flash PMI data for April came in stronger than expected. In particular, the services component printed 60.1 vs 58.9 survey. Elsewhere, March retail sales data similarly surprised higher (Ex Auto 7.9% Y/Y vs 4.5% survey).

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