June 18, 2024 09:00 GMT
No Meaningful Concession For 5s Into Auction
GILTS
No sign of meaningful 5-Year concession on the curve ahead of the impending round of gilt supply, with the belly actually slightly outperforming the wings on the 2-/5/10-Year butterfly structure on the day, operating a little off the June cheaps.
Fig. 1: UK 2-/5-/10-Year Butterfly
Source: MNI - Market News/Bloomberg
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