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Futures Push Further Beyond 95.00

GILTS

The second-round post-U.S. CPI price action allows gilt futures to move further beyond 95.00 after this morning’s short-lived and limited foray above the figure.

  • Contract last +60 or so, just shy of best levels (95.40).
  • Cash benchmarks last 5-7bp richer.
  • SONIA futures last show 0.25-10bp richer after registering fresh highs post-U.S. CPI.
  • BoE-dated OIS shows around 21bp of tightening for this month’s meeting, while terminal policy rate pricing shows back below 5.65%, strip flattening on the day.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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