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Reclaiming Earlier Losses

GILT SUMMARY

Having sold off sharply earlier in the session - a continuation of the inflation risk theme - gilts started to claw back losses from midday with yields edging back to yesterday's close.

  • Cash yields are now broadly 1-2bp higher on the day with the curve 1bp steeper. Last yields: 2-year 0.1015%, 5-year 0.4093%, 10-year 0.8996%, 30-year 1.4369%.
  • The Jun 21 gilt future trades at 127.10, 6 ticks below yesterday's close.
  • MNI has published Gilt issuance expectations for FQ2 (July to Sep), which is available on line.
  • Former UK PM David Cameron faced questions over his involved with Greensill at a parliamentary committee today at a time when the government has faced increased scrutiny over private sector lobbying.

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