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Bailey Comments Help Cap Second-Round Bid

GILTS

Gilts trade in a similar manner to UK STIR, with some post-BoE decision soundbites from Governor Bailey helping cap a second-round bid (they read slightly hawkish if anything, once again pushing back on the idea of imminent discussions re: rate cuts). That leaves futures around 110.70, a little below pre-BoE decision levels after bears failed to test Thursday closing levels. Similarly, cash gilt yields are last 4-15bp lower on the day, bull steepening.

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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