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Future Through Resistance, 5s Lead Rally

GILTS

Rally extends as the SNB cut and early flash national PMI prints out of Europe are digested.

  • 2-Year yields move to the lowest level seen since Mid-January.
  • Gilt yields 2-6bp lower across the curve, 5s leading the rally.
  • Futures print as high as 99.47, through initial resistance as bulls start to reassert themselves. They now look for a break above 100.00 to expose key short-term resistance at the March 12 high (100.37).
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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