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GILT SUMMARY

Gilts have lacked firm direction today and currently trade close to flat on the day.

  • Last yields: 2-year 0.0487%, 5-year 0.3639%, 10-year 0.8384%, 30-year 1.3891%.
  • The Jun 21 gilt future trades at 127.77, near the middle of the day's range (L: 127.56 / H: 127.99).
  • Short sterling futures are broadly flat/0.5 ticks higher in whites/greens/reds/blues.
  • Data published earlier in the session showed much faster growth in retail sales in April than initially expected, and a similar surprise higher for the preliminary manufacturing PMI for May.
  • The DMO earlier sold GBP3.5bn of 1/3/6-month bills.

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