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TD Securities says UK's incoming supply.....>

UK VIEW
MNI (London)
UK VIEW: TD Securities says UK's incoming supply is almost in line with issuance
seen last year. "However, with issuance being skewed to the long-end, the
quarter does see significant duration risk."
- "The support that Gilts received in Q1 on back of favorable cash flows and APF
investments has faded now," added TD Securities and focus should turn towards
heavy duration supply as well the BoE's policy tightening. 
- "We continue to hold a bearish view on outright yields which has been
expressed via our short 10y Gilt ASW trade as well as 2s10s curve steepener,"
said TD Securities.

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