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No big uptick in size

GILTS
  • So still no real big uptick in the size - despite market participants knowing what offers were accepted on Friday - and despite the BOE confirming that these operations will not be extended past the end of the week.
  • Note that the size of tomorrow's operation will be confirmed at 9:00BST but is expected to have a maximum size of GBP10bln again.
  • It's not been a huge market reaction but gilt futures hit their intraday low of 93.01 in the aftermath of the operations.

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