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MNI ASIA MARKETS ANALYSIS: UK Curve Lightly Bear Steepens Pre-BoE

HIGHLIGHTS

  • Treasuries have seen a modest sell-off having reversed an earlier bid seen on surprisingly soft wholesale trade sales, following EGBs lower on the day .
  • Gilts outperform ahead of tomorrow's BoE rate decision.
  • G10 FX ranges remain narrow, awaiting the next macro cue to build momentum in either direction, although USDJPY registers its third consecutive day of gains.
  • Crude futures recovered with help from a slightly larger than expected stock draw.
  • The BoE rate decision is firmly in focus before US macro focus turns to weekly jobless claims amidst a light week for data.
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HIGHLIGHTS

  • Treasuries have seen a modest sell-off having reversed an earlier bid seen on surprisingly soft wholesale trade sales, following EGBs lower on the day .
  • Gilts outperform ahead of tomorrow's BoE rate decision.
  • G10 FX ranges remain narrow, awaiting the next macro cue to build momentum in either direction, although USDJPY registers its third consecutive day of gains.
  • Crude futures recovered with help from a slightly larger than expected stock draw.
  • The BoE rate decision is firmly in focus before US macro focus turns to weekly jobless claims amidst a light week for data.
Keep reading...Show less