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Early Rally Fades

GILTS

The early rally in gilts fades.

  • Futures last +14 at 97.89 (initial 97.76-98.15 range intact).
  • Bulls do not get close to challenging yesterday’s high.
  • The technical picture for the contract remains unchanged.
  • Cash gilt yields are 3-4bp lower on the day, outperforming global peers across the curve.
  • The relatively heavy global government bond issuance schedule is probably helping cap bond rallies.
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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