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Learning On Oil Weakness & Move Away From Highs In Equity Futures

GILTS

Global equity index futures move further away from best levels, combining with a downtick in crude oil futures to help underpin the space, pulling Gilt futures way from mid-morning lows after a look below yesterday’s trough. That leaves the contract -25 or so, ~40 ticks off worst levels, while the cash curve twist flattens, leaving cash Gilts running 3bp cheaper to 2bp richer as the 2-/10-Year yield curve continues to hover just above inverted cycle extremes. BoE-dated OIS holds just below the 6.25% mark in policy rate terms, with nothing in the way of market-moving commentary from BoE dove Dhingra earlier today.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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