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No Respite

GILTS

No respite for Gilts thus far, with futures comfortably through initial support to sit at levels not seen since early March, -90 or so on the day, with YtD lows well and truly in focus. EURO STOXX 50 & U.S. e-mini futures operate a touch shy of recent session bests, providing no let up on that front, while BoE-dated OIS pricing holds steeper on the day after the early London firming, once again keeping the pressure on Gilts (the latest BoE TSC appearance failed to generate much in the way of meaningful, market-moving information). 10- & 30-Year yields have managed to register fresh YtD highs on the move, with a fairly parallel 6-7bp of cheapening now seen across the Gilt curve.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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