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EGB/GILT:

BOND SUMMARY

With this week's BOE decision now in the rear view mirror and the data calendar exhausted, discernible catalysts for market price action have been few and far between. Focus will shift to this afternoon's US NFP report with Canadian labour market data released at the same time.

  • Having initially strengthened in early trade, gilts have sold off slightly through towards midday. The longer end of the curve has underperformed with yields ~2bp higher.
  • Gilts have similarly traded weaker albeit with yields within 1bp of yesterday's closing levels.
  • OATs trade close to unch on the day. Last yield levels: 2-year -0.6119%, 5-year -0.5738%, 10-year -0.2242%, 30-year -0.224%.
  • BTPs abd SPGBs similarly trade close to unch.
  • - Supply this morning came from the UK (Bills, GBP3.0bn).

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