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Gilts opening on the soft side with....>

GILT SUMMARY
GILT SUMMARY: Gilts opening on the soft side with the yield curve bear
steepening as the long-end comes under the most pressure, however most in the
market are looking ahead to latest UK unemployment and average weekly earnings
data.
- There was little direction seen overnight from Asian with only Dallas Fed
President Robert Kaplan comments on raising interest rates -- patience may be
required, and the Fed's balance sheet -- process of starting run off should
start very soon.
- While the main political news from the UK, its the announcement that the UK
government does not want Irish boarder posts, but critics have complained that
it lacks detail.
- As for today's UK jobs data, MNI median is for unemployment for June is to
remain at 4.5%, but with a slight risk seen that it could slip to 4.4%. While
average weekly earnings is expected to remain at 1.8%, leaving real wages in
negative territory.
- 10-year Gilt yield is currently 1.6bp higher at 1.101%.

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