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Gilts have rallied and the curve has...>

GILT SUMMARY
GILT SUMMARY: Gilts have rallied and the curve has bull flattened during the
session.
- The Sep-20 gilt future trades at 137.43, 2 sticks off the day's high.
- Cash yields are 2-4bp lower on the day. Current yield levels: 2-year -0.0695%,
5-year -0.0217%, 10-year 0.1790%, 30-year 0.5734%.
- Short sterling futures are broadly 1.0-2.5 ticks higher in the white through
blues contracts.
- The DMO earlier sold GBP3.75bn of the 0.125% Jan-23 gilt and GBP2.25bn of the
1.25% Oct-41 gilt. An additional GBP510.7mn and GBP562.5mn of the respective
issues were purchase through he PAOF facility.
- The BoE purchased GBP1.5bn each of short-/medium-/long-term gilts.
- Focus shift to tomorrow's BoE meeting where the MPC is widely expected to
increase asset purchases. The consensus among sell side analysts see a GBP100bn
increase in QE. 

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