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Block Buy & Gilt Bid Promote Some Stabilisation


Nothing in the way of lasting broader impact in the wake of the TY block buy (~$157K DV01) flagged recently.

  • The combination of the post-partial labour market bid in gilts and that block buy had provided modest support over the last hour or so.
  • Still, that has faded, with gilts now off best levels of the morning.
  • TYZ3 last shows -0-07 at 106-31+, a little above worst levels of the day.
  • Cash Tsys sit 1-5bp cheaper.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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