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0.125% Mar-73 I/L gilt

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Bonds Extending Highs

US TSYS
Bonds continue to extend highs in late morning trade as market awaits results of BoE Gilt purchases results in long end (imminent).
  • Short-end yield curves reverse course: 2s10s -3.400 flatter now at -37.803 vs. -23.612 low amid strong selling in 2s and 5s.
  • Swap-tied selling in 2s-10s as spds stand 2.5-4.0bps wider at the moment.
  • Pre-auction short sets ahead $36B 7Y note auction as well, running 3.895%, appr 76.5bp cheaper than last months high yield.
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Bonds continue to extend highs in late morning trade as market awaits results of BoE Gilt purchases results in long end (imminent).
  • Short-end yield curves reverse course: 2s10s -3.400 flatter now at -37.803 vs. -23.612 low amid strong selling in 2s and 5s.
  • Swap-tied selling in 2s-10s as spds stand 2.5-4.0bps wider at the moment.
  • Pre-auction short sets ahead $36B 7Y note auction as well, running 3.895%, appr 76.5bp cheaper than last months high yield.