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Big move lower on the open

SHORT-STERLING
  • Big move lower on the short sterling open with Whites down 6.5-8.5 ticks, led by the Dec21 contract and the rest of the curve down 5.5-6.5 ticks.
  • December 2021 15bp hike now fully priced.
  • All the moves on the back of Saunders (and to a lesser extent Bailey's) comments over the weekend.

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