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Steepening continues

GILTS

Gilt curve steepening is continuing. As discussed earlier, the press conference following the BOE struck a more dovish tone than the Minutes and yields have continued to fall since

  • Gilt futures continue to move higher and approaching the 50% retracement of the Aug - Oct downleg which comes in at 126.39 (126.00 at the time of writing, up 120 ticks on the day).
  • 2y yields down -18.7bp today at 0.500%
  • 5y yields down -17.9bp today at 0.661%
  • 10y yields down -12.5bp today at 0.946%
  • 30y yields down -7.1bp today at 1.125%
  • 2s10s up 6.2bp today at 44.6bp
  • 10s30s up 5.4bp today at 17.9bp

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