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Gilts continue to retrace from their lows

GILTS
  • Futures now retraced around half of the move since yesterday's close. We saw a low of 103.53 but are now around 65 ticks higher.
  • 2-year yields continue to move lower too, now around 3.425% from a high of 4.484% (so we are over 6bp off the higher) but we are still 15bp higher versus yesterday's close.

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