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- Gilts have sold off this morning.....>

GILT SUMMARY
GILT SUMMARY: - Gilts have sold off this morning and the curve is slightly
flatter.
- The 2-year trades at 0.749% up from 0.725% and the 10-year yield has pushed up
to 1.502% from a low of 1.485%.
- The 2s10s spread has narrowed to 74.7bps from a high of 75.4bps while 2s30s
has traded down to 114.9bps from 115.6bps.
- The Dec gilt future trades at 121.7 down from 121.9
- Inflation breakevens continue to inch lower with the 5-year benchmark down to
3.072% from 3.085%.
- The short sterling futures strip is up 0.5-2.0 ticks. The most recent
significant option flow to hit the screen was: 10k Jun19 98.875/98.750/98.625
put fly paid 1.5
- The CBI Trends survey for October came in weaker than expected with the total
orders reading falling to -6 vs 2 survey.

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