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Strong 15-year gilt auction

GILT AUCTION RESULTS
  • Strong gilt auction there - tight tail, good bid-to-cover, decent premium to secondary market mid-price.
  • The 3.75% Jan-38 gilt jumps from 96.530 to 96.659 at writing - above the average price of the auction.
  • Gilt futures move from 101.10 around 10 ticks higher, but have given back some of that initial move already.

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