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No new low this morning

GILTS
  • Gilt futures are now around 23 ticks weaker on the day at 99.76. They had traded as low as 99.43 this morning after following the moves lower in Treasuries and Bunds on the open.
  • However, unlike Treasuries and Bunds gilt futures did not breach yesterday's lows of99.37 (as they are still holding on to some of the move higher following Bailey's non-committal to raise rates further).

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