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FLAT ON THE DAY

GILT SUMMARY

Gilts have traded weaker through the afternoon following this morning's rally.

  • The Dec-20 gilt future trades at 136.60, near the middle of the day's range (L: 136.36 / H: 136.78) and in line with yesterday's close.
  • Cash yields are now close to unch on the day. Last yields: -0.1217%, 5-year -0.1320%, 10-year 0.1788%, 30-year 0.7478%.
  • The DMO earlier sold GBP2.25bn of 1-/3-/6-month bills.
  • Retail sales data released this morning came in a touch above expectations (ex auto, 4.3% Y/Y vs 4.2% survey).
  • MNI today published its BoE Review for September, which is available online and by email.
  • The UK government has reintroduced tough social distancing restrictions of the North East of England to combat the rising coronavirus infections.
  • Looking ahead to next week, preliminary September PMI data will be key to watch on Wednesday.

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