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Fallen Back from the Day's Highs

GILT SUMMARY
  • After trading through August 28 highs shortly after the open and hitting 136.11, gilts have fallen back to a 135.70-136.00 range through the rest of the day.
  • After yesterday's slew of UK speakers there was little to move the docket or shift sentiment too much in UK markets today and gilts have largely traded in line with Bunds.
  • The UK services PMI for August was revised down from 60.3 to 59.1 but still showed most firms thought the economy has continued to rebound in August.
  • 2y yields up 1.0bp today at -0.110%
  • 5y yields up 0.7bp today at -0.65%
  • 10y yields up 0.2bp today at 0.231%
  • 30y yields down -0.8bp today at 0.811%
  • 2s10s down -0.8bp today at 34.1bp
  • 10s30s down -1.0bp today at 58.0bp

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