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Gilt/EGB: The Kantar poll has been.....>

BOND SUMMARY: Gilt/EGB: The Kantar poll has been the big story of the morning
for gilts (and also driven EGBs to a lesser extent. The poll showed that the
Conservative party lead has fallen back over the past week and has led to
increased concerns in the market that the Tory party may not win a majority.
This has helped push gilts higher. The chances of a Tory majority have also not
been helped by a surge in voter registrations. Figures from the Electoral
Committee have shown that 2.8mln people have registered to vote since the
election was called, compared to 1.7mln at a comparable stage ahead of the last
election. The young are less likely to be registered to vote and are also more
likely to vote Labour. This has therefore also helped push gilts higher.
- Bunds have followed gilts higher but peripheral spreads are more mixed despite
equities being generally lower.
- Gilt futures are up 0.38 today at 132.50 with 10y yields down -3.9bp at 0.655%
and 2y yields down -2.7bp at 0.486%.
- Bund futures are up 0.12 today at 171.21 with BTP futures down -0.28 at 141.95
and OAT futures up 0.11 at 167.68.

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