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Curve is steepening

GILTS
  • UK 5s/30s leans steeper today, after the curve found support at the April low, traded down to 20.282 in April and 20.250 yesterday.
  • These were the tightest print since 23/02/22.
  • Main Gilt flow is still rolling September positions into December.
  • September and December trade near identical volumes, and December will be front month on Tuesday.

Chart source: MNI/Bloomberg

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