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Short sterling strip LIfted

SHORT-STERLING
  • Unclear on what has driven that sudden spike.
  • 3yr Sonia got lifted from 99.6700 to 99.6875 in around 1k.
  • The whole strip got lifted LU1 all the way to LU4 and to a lesser extent further out.
  • Desks have seen very little in terms of new flow, besides fairly thin Volumes, which may have helped exacerbate the move.

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