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Lowest levels since 11 July touched on the open

GILTS
  • Gilt futures fall to their lowest since 11 July on the higher-than-expected wage data released this morning.
  • At the time of writing an intraday low of 92.63 had been touched, breaching the July 12 low of 92.82 with the key support at 92.09, the July 7 low.
  • In terms of the cash market, the biggest moves have been seen at the short-end with a bull flattening in 2s5s, 5s10s and 10s30s.
  • Today will see continued digestion of the labour market report with the inflation print due ahead of the market open at 7:00BST tomorrow.
  • 2y yields up 7.6bp today at 5.136%
  • 5y yields up 6.6bp today at 4.632%
  • 10y yields up 5.0bp today at 4.613%
  • 30y yields up 4.0bp today at 4.791%

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