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EGBs/Gilts: The UK parliament has......>

BOND SUMMARY
BOND SUMMARY: EGBs/Gilts: The UK parliament has been prorogued for five weeks,
triggering heated scenes in the House of Commons. PM Boris Johnson has once
again tried to trigger a snap election, only to be denied by MPs. 
- Gilts sold off at the open, but quickly clawed back losses towards yesterday's
closing levels. Current yield levels: 2-year 0.427%, 5-year 0.395%, 10-year
0.595%, 30-year 1.102%.
- French industrial production data for July came in weaker than expected.
Italian industrial production and UK labour market data will be published later
today.
- EGBs trade broadly weaker this morning. Conflicting statements from ECB
policymakers in recent weeks have stirred doubts on the size of a potential QE
programme this week.
- The bund curve has bear steepened with 2s30s trading up ~2bp.
- The very long end of the French OAT curve is similarly underperforming.
Current yield levels: 2-year -0.771%, 5-year -0.694%, 10-year -0.267%, 30-year
0.647%.

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