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Gilts higher; other core FI little moved

BONDS
  • Other than gilts which are generally higher on the day, core fixed income has been rather directionless this morning. EGBs moved lower earlier but have since recovered somewhat while gilts are above Friday's close.
  • Looking ahead its a big data week for the UK (labour market, CPI, retail sales) while we will receive the flash PMI data across the UK, Eurozone and US.
  • Today will see BOE's Cunliffe and ECB's Lagarde speak. The accounts of the March ECB meeting are due to be released on Thursday.
  • TY1 futures are down -0-1 today at 114-26+ with 10y UST yields up 0.8bp at 3.524% and 2y yields up 1.7bp at 4.119%.
  • Bund futures are down -0.26 today at 134.13 with 10y Bund yields up 1.1bp at 2.447% and Schatz yields up 0.4bp at 2.869%.
  • Gilt futures are up 0.01 today at 102.22 with 10y yields down -1.8bp at 3.644% and 2y yields down -3.2bp at 3.568%.

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