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TD analysts eyed "fading the complacency....>

UK VIEW
UK VIEW: TD analysts eyed "fading the complacency in the front-end" UK govt debt
market and said that "following the August BOE meeting, the market has
significantly scaled back its expectations for rates normalization in the UK."
- They add that "the flatness of the front-end curve still shows a lot of
complacency at this stage from a risk reward perspective, we favor steepeners in
the short-end of the money market curve."

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