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Bulls Test Yesterday's High In Futures, Bid On Global FI Lead

GILTS

Early gilt trade sees the space underpinned by moves in wider core global FI markets, while the softer-than-expected 3-month/3-month domestic GDP and index of services data may be getting more attention than the headline monthly beats after some negative revisions.

  • Bulls manage a test of yesterday’s high in gilt futures before a modest pullback. Familiar technical parameters remain untested this week.
  • The contract last shows just below 100.40, up the best part of 60 ticks on the day, ~10 ticks shy of the peak of its early 50-tick range.
  • Cash gilt yields are 5-6bp lower across the curve.
  • The DMO has recently announced that the Bank of Montreal London Branch will be recognised as a retail GEMM from Monday 15 January.
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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