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Euro-Bund Put Condor vs Call Spd

MEXICO

Retail Sales Ahead of Expectations In August

TURKEY

CBRT Cut Rates by 200bps vs. Exp. Cut of 100bps

POLITICAL RISK

BioNTech Say Ph.3 Trial Data Shows High Efficacy Of Booster

SWITZERLAND

CHF LIBOR FIX - 21-10-2021

GILT SUMMARY
GILT SUMMARY: It has been an uneventful London morning session with a rather
muted reaction in wake of official start to US/China import tariffs with eyes
seen firmly on US jobs data released this afternoon. Gilts are currently steady
to lower with the short-end of the yield curve coming under some light selling
pressure and in-turn flattening the yield curve.
- 2-yr Gilt yield is +0.6bp at 0.73%, 5-yr +0.4bp at 1.014%, 10-yr +0.1bp at
1.255%, 30-yr -0.5bp at 1.703% & 50-yr -0.3bp at 1.559% according to Tradeweb.
- Sep Gilt future opened lower, but quickly pared losses as markets appeared
sanguine about the start of the US/China trade spate and Brexit headlines were
limited to talk of ex-PM Cameron persuading Boris Johnson to sign up with PM
May's latest customs deal.
- Markets are keeping one eye on if there will be any cabinet resignations
within the government and another on US jobs data at 1330BST.
- Short Sterling strip has pared some of their earlier move lower, but red and
green contracts remain 1 tick lower on the day. 30-yr breakevens are 0.7bp wider
while swap spreads are little changed.