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Gilt drifts lower

BONDS
  • A tight range so far for Gilt, with the contract opening right at the mid wide range call, now drifting lower.
  • The opening gap jumped from 92.67 to 93.13, as the contract caught up with EGBs, following the German NRW and the prelim Spanish CPI miss.
  • Gilt/Bund spread is in turn a touch wider (1.8bp), but short of the October high situated at 176.00bps.

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