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Off Early Highs, A Little Firmer Ahead Of Event Risk

GILTS

Gilts with very similar price action to GBP STIR markets.

  • Off CPI-driven highs, the early high in futures (99.30) was never retested after the bid faltered ahead of initial resistance (99.35).
  • Contract last +26 at 98.99 with the bullish technical theme still intact.
  • Cash yields 3-4bp lower across the curve, very modest outperformance for 10s.
  • 10s trade either side of 4.00% on the day.
  • Focus is squarely on impending FOMC & BoE decisions.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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