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Cycle Highs Give Way to Sharp Loss


Chicago Fed Evans Comments


Oil Mixed Whilst Gold Rebounds On Fed Stepdown Talk

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GILTS: Gilts have opened modestly higher with yield between 0.8bp to 1.7bp lower
with the long-end being slightly flavoured for now, but this could easily change
this afternoon when US jobs report is released and a number of Fed FOMC members
speak. 10-yr Gilt last 1.7bp lower at 1.374%.
- There is dearth of UK data today and with UK closed for early May-Day holiday
on Monday, Gilts will be reacting to outside influences today. Risk events pick
up next week though with BoE MPC monetary policy decision and release of last
inflation report.
- Markets have do not expect a rate hike next week any more, following run of
poor UK data and comments from BoE Governor Carney. But analysts views on future
policy are mixed with some seeing BoE being on hold for next 2-yrs, while overs
see 1 hike this year and between 1 and 2 in 2019  
- Short sterling strip is mixed but showing little direction so far following
strong rally yesterday. 

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