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EGBs/GILTs: As the UK election.........>

BOND SUMMARY
BOND SUMMARY: EGBs/GILTs: As the UK election campaign heats up, both parties are
battling over spending plans. Labour had announced that if in government it
would nationalise Openreach and offer free broadband to all households by 2030.
- Gilts have sold off this morning with yields 1-2bp higher and the curve
marginally steeper. Current yield levels: 2-year 0.536%, 5-year 0.502%, 10-year
0.728%, 30-year 1.258%.
- Core EGBs have traded weaker this morning. Bund yields are 1-2bp higher.
- OATs are trading in a relatively tight range and the curve is close to flat on
the day.
- BTPs have rallied with the 10-year benchmark outperforming the curve. Current
yield levels: 2-year 0.108%, 5-year 0.649%, 10-year 1.289%, 30-year 2.362%.  

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