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Flattening Ahead Of Macro Event Risk

GILTS

Gilt futures continue to coil ahead of the impending round of tier 1 macro risk events, fluctuating in a narrow band around unchanged levels, while the major cash benchmarks are unchanged to 6bp cheaper as the curve bear flattens. A modest uptick in terminal rate expectations on the BoE-dated OIS strip and some cheapening in SONIA futures (as much as 5bp cheaper at typing) has been noted alongside the weakness in the front end of the gilt curve.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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