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Key Weekend Brexit Discussions Ahead


Gilts have lacked direction today amid sideways trading in equities.

  • The Dec-20 gilt future trades at 135.83, near the bottom of the day's range (L: 135.71 / H: 136.19)
  • Cash yields are now 1-2bp above yesterday's closing levels. Last yields: 2-year -0.043%, 5-year -0.0629%, 10-year 0.2453%, 30-year 0.8151%.
  • The DMO earlier sold GBP1.75bn of 1-/3-/6-month bills.
  • Following the EU's announcement that it will pursue legal action against the UK in response to the contentious internal markets bill, Brussels today stressed that it would look to intensify trade talks as Brexit discussions go down to the wire. UK PM Boris Johnson and EC President Ursula von der Leyen are due to hold key discussions on Saturday.
  • Looking ahead next week sees the release of the final PMI prints for September, monthly GDP for August, as well as the latest industrial production, construction output and index of services data.

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