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Futures Back To Flat, Curve Twist Flattens

GILTS

Gilts futures looking through early session highs as core FI markets tick away from London cheaps, still the contract sticks to yesterday’s range, last +5 at 98.26.

  • A break of yesterday high (98.32) would have bulls looking towards the first projection of the Nov 24-29-30 price swing (98.78)
  • Cash gilt yields are 1bp higher to 3bp lower on the day, as the curve twist flattens.
  • BoE-dated OIS & SONIA futures are biased a little dovishly, with the former running little changed to 2bp lower, while the later runs -0.5 to +2.0 through the blues.
  • Local headline flow remains subdued.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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