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Still Under Pressure, Pay-Side Remains Evident In STIRs Post-CPI

GILTS

Gilts remain under pressure, with futures trading as low as 98.34, while cash yields sit 12-21bp higher on the day. Pay-side interest remains evident in the short end post-CPI, with ~107.5bp of cuts showing through ’24 BoE-dated OIS contracts (vs. ~130bp at yesterday’s close).

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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