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Gilts opening modestly higher led by...>

GILT SUMMARY
GILT SUMMARY: Gilts opening modestly higher led by the middle to long-end of the
yield curve supported by continued speculation of upheaval in the Trump
administration leaving the market cautious on risk. 10-yr Gilt yield is 1.3bp
lower at 1.423%.
- There has been little domestic news or data seen to direct markets this
morning and with the delayed opening of Eurex volumes have been very light.
Attention today will turning to release of Eurozone final February inflation at
1000GMT and then on US open with release of US housing starts and industrial
production data.
- Brexit negotiations continue in Brussels and look set to carry on over the
weekend as UK and EU hope to agree a transitional agreement at next week's EU
summit. However, with the UK releasing a meeting schedule on issues relating to
the Northern Ireland/Ireland boarder that go into third week of April,
speculation is that an agreement will not be agreed.
- Breakevens are steady to higher with the 5-yr 1.7bp wider, while swap spreads
are little changed so far. 

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