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The spread is off the high

GILTS
  • Gilt spread is offered today, but a total non event compared to yesterday, 89 spreads.
  • The spread rallied all the way to 104 after settling at 99 on Wednesday Looking at the chart it is clear that something happened,, with some type of position adjustment.
  • As noted earlier, this targets the February MPC meeting.
  • Chart source: Bloomberg

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