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LACKING DIRECTION

GILT SUMMARY

Gilts have lacked direction today, trading in a relatively tight sideways range while equities have pushed higher.

- Having sold off from midday, the Sep-20 gilt future has traded back up towards the top end of the day's range (L: 138.27 / H: 138.54) and last printed 138.47.

- Cash yields are close to unch on the the day with the curve flat overall. Last yields: 2-year -0.082%, 5-year -0.1311%, 10-year 0.0972%, 30-year 0.6220%.
- Focus this week is on the upcoming BoE MPC meeting on Thursday. MNI is soon to be publish the BoE Preview.
- The data slate is light this week, with the final PMI prints for July being the only releases of note. Today's manufacturing PMI for July was revised slightly lower (53.3 vs 53.6 previously).

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