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Sterling assets have faced.............>

GILT SUMMARY
GILT SUMMARY: Sterling assets have faced considerable pressure today as the
combined monetary and fiscal support is still considered insufficient to ward
off the economic impacts of the coronavirus. The pound, in particular, has
suffered today with cable sinking below 1.18 and trading at the weakest level
since 1985.
- Chancellor of the Exchequer Rishi Sunak has said that there may be an argument
in favour of state support for private companies, having already announced
Stg330bn in fiscal support.
- The gilt curve has bear steepened with the 2s10s spread trading up 18bp. 10-
to 50-year gilt yields are up 20-25bp on the day.
- Gilt futures are trading at 131.41, down 157 ticks from the day's high.
- The UK education minister is due to talk at 1700. There is speculation that
the UK will announce school closures given the decisions already taken in
Scotland and Wales.

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