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Light Pressure For Gilts And Bunds On U.S. PMIs

BONDS

Bunds and gilts turn lower once again in the wake of the U.S. flash PMI data, after the move away from best levels slowed over the last couple of hours.

  • Still, the latest moves are relatively contained.
  • Bund futures haven’t got anywhere near flat and last trade +40 or so. Benchmark cash yields run 1-3.5bp lower, with 10s outperforming.
  • Gilt futures nearly closed the opening gap higher during the earlier move away from best levels, but bears didn’t quite manage to achieve that feat. Futures last show +60 or so, with cash yields 2-4bp lower, 10s outperforming.
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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