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- The short-end of the gilt curve......>

GILT SUMMARY
GILT SUMMARY: - The short-end of the gilt curve has traded sideways this
afternoon following the morning rally, while yields at the longer-end have
continued to drift lower.
- The 2-year yield has pushed down to 0.738% from 0.764%, while the 10-year
trades at 1.273% down from 1.314%.
- The very long-end has outperformed on the day with the 30-year yield trading
down to 1.801% from 1.833% and the 2s30s spread narrowing to 105.1bps from
106.0bps.
- The short sterling futures strip has flattened, driven largely by the rally in
greens/blues which are up 3.5-5.0 ticks.
- Equities have enjoyed a relief rally with the FTSE 100 gaining 2.3% on the
day. Cable has traded relatively weak compared to other G10 currencies against
USD.

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