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The sell-off in gilts has continued through the afternoon session with the longer-end underperforming.
- The Sep-30 gilt future trades at 136.37 towards the bottom end of the day's range and 14 ticks off the low.
- The gilt curve has bear steepened with the 2s30s spread 3bp wider on the day.
- Last yield levels: 2-year -0.0048%, 5-year -0.0071%, 10-year 0.2471%, 30-year 0.7891%.
- The data calendar has not been exhausted for the week following the release of the RICS house price balance for July (12% vs -5% consensus).
- Next week will see the publication of CPI, retail sales and public finance data for July and preliminary PMI prints for August.
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