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Coming hot on the heels of the ECB's...>

GILT SUMMARY
GILT SUMMARY: Coming hot on the heels of the ECB's emergency meeting yesterday
in which a new EUR750bln asset purchase programme was announced, the Bank of
England delivered its second emergency policy intervention today with a decision
to cut the bank rate to 0.10% and increase asset purchases by Stg.200bln.
- Gilts responded positively to the announcement, sterling has rallied and
equities have pushed higher.
- The gilt curve has bull steepened with the 2s10s spread widening 13bp. 
- Current yield levels: 2-year 0.192%, 5-year 0.535%, 10-year 0.799%, 30-year
1.278%.
- The Jun-20 gilt future trades at 131.02, near the top of the day's range.

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