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Higher open on bigger reduction to remit than expected

GILTS
  • Gilts opening around the 129.00 level (around 18 ticks higher) after the bigger than expected reduction in the gilt remit for FY21/22.
  • This is the highest level since 11 March.
  • Our technical analyst notes the key resistance at 129.27, the high of March 2 and the reversal trigger.

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