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End Continues To Benefit From BoE APF Sales Tweak

GILTS

Gilt futures are +45 or so, just above 101.60, around the top of their near 50-tick early range. The contract looks through Friday’s peak but is short of Thursday’s high.

  • Cash gilt yields are 1.5-3.0bp lower across the curve, with the belly seeing some modest underperformance.
  • The long end continues to benefit from the feedthrough from the BoE’s APF sales schedule (outlined earlier).
  • SONIA futures run -0.25 to +5.0 through the blues, twist flattening.
  • This weekend saw headline flow generally centre on domestic politics.
  • The previously flagged comments from BoE Deputy Governor Broadbent (10:30 London) headline ahead of Wednesday’s UK CPI print.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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