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EXTENDING LOSSES

GILT SUMMARY

Gilts remain offered and have extended losses from yesterday's sharp sell-off.

  • The Sep-20 Gilt future trades at 136.03, 3 ticks off the day's low.
  • Cash yields are 1-4bp higher on the day and the curve has bear steepened with the 2s10s spread trading up 3bp. Last yields: 2-year -0.0124%, 5-year 0.0169%, 10-year 0.3023%, 30-year 0.8793%.
  • Short sterling futures are 0.5-2.0 ticks lower in whites through blues.
  • There were no significant UK/European data releases today. The Lloyds Business Barometer update for August - published on Friday - will be the last UK data release for the week.

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