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EGB/Gilt: Waiting for Tiers and School Clarity in the UK

BOND SUMMARY
  • With a lack of liquidity we have had an up and down day, but at the time of writing are almost exactly where we started after a sell-off this morning.
  • The UK House of Commons has approved the Brexit deal today by a large margin. The vast majority of opposition MPs have voted in favour of the deal on the premise that any deal is better than no deal and there is of course no time to renegotiate anything at such a late stage.
  • Attention now turns to the new Covid-19 tiers (which Health Secretary Matt Hancock is due to release shortly) and the announcement of whether the plan for schools to go back for the new term will change. The previous plan was for primary schools to return as normal on 4 January with pupils in exam years in secondary schools back the same day but with other yeargroups in secondary schools starting a week later.

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