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Gilts Still Offered

GILT SUMMARY

Gilts have been offered through the day alongside weaker trading in equities and sustained cable gains.

  • The gilt curve has bear steepened with the 2s30s spread 5bp wider. Last yields: 2-year -0.0420%, 5-year 0.1393%, 10-year 0.6314%, 30-year 1.2139%.
  • The Mar 21 gilt future trades at 130.68, 19 ticks off the low in what has been a relatively wide intraday range (L: 130.49 / H: 131.37).
  • The short sterling futures strip has steepened with whites/reds 0.5-3.5 ticks lower and greens/blues 3.5-7.5 ticks lower.
  • Looking ahead, tomorrow sees the release preliminary PMI data for February, as well as retail sales and public finance data for January.

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