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(M2) Correction Extends


Late Session Rebound


(M2) Corrective Cycle Remains In Play


(M2) Gains Still Considered Corrective

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Gilts have started the session on a weak footing, extending this week's losses stemming from news of Pfizer's vaccine. A marginal shift in expectations with respect to a UK-EU trade deal is further underpinning the sell-off.

  • Cash yields are 1-3bp higher in early trade with the curve 2bp steeper. The longer end, in particular, is underperforming EGBs.
  • The 30-year gilt yield has now touched 1% for the first time since March.
  • The Dec-20 gilt future has pushed through support at 133.79 with our TA highlighting 133.55 as the next key level to watch
MNI London Bureau | +44 0203-865-3808 |
MNI London Bureau | +44 0203-865-3808 |

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