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EGB/GILTs: The BoE decision will be....>

BOND SUMMARY
BOND SUMMARY: EGB/GILTs: The BoE decision will be announced at 1200GMT.
Consensus expects no change in the bank rate. A shift in the vote composition
would be market moving. Focus will also be on the policy statement, which may
indicate how the MPC is interpreting recent policy developments.
- The early morning sell-off in gilts has stabilised. Yields are now 1-3bp
higher on the day. Current yield levels: 2-year 0.535%, 5-year 0.590%, 10-year
0.798%, 30-year 1.293%.
- EGB yields have pushed higher through the morning with BTPs leading the
charge.
- The German bund curve has bear steepened with 2s30s up 3bp.
- BTP yields are 4-7bp higher.         
- The European data calendar will be relatively light for the rest of the week
with the final Q3 GDP print for the UK being the highlight on Friday. 

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