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- Gilts have rallied this morning......>

GILT SUMMARY: - Gilts have rallied this morning and the curve has flattened on
the back of the long end outperforming.
- The benchmark 2-year gilt trades at 0.886% down from a morning high of 0.912%
and the 10-year trades at 1.687% down from 1.723%.
- The 2s10s spread has narrowed to 79.2bps from 81.1bps.
- The Dec Gilt future trades at 119.92 up from 119.59.
- The short sterling futures strip is flat to 2.0 ticks higher.
- Inflation breakevens have been edging lower with the 5-year benchmark trading
down to 3.202% from 3.210%.

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