BOC REITERATES SEES FURTHER CUTS IF ECONOMY GOES AS EXPECTED

NAGEL SEES ECB TAKING MEETING-BY-MEETING APPROACH ON RATES

MNI: BOC Says Policy No Longer Needs To Be As Restrictive

MNI China Daily Summary: Wednesday, June 12

MNI BRIEF: Beijing Willing To Safeguard Chinese Firms - MOFCOM

MNI BRIEF: China May CPI Flat At 0.3% Y/Y

MNI: US MAY TREASURY BUDGET -347.1B

MNI: USDA: 2024/2025 CORN PRODUCTION EST 14.86B BSL

EZ/UK Bond Supply Calendar: 3/7/15/25-Year BTP Due Thursday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Trading Weaker

GILT SUMMARY

Gilts have traded weaker with the curve flat overall.

  • Cash yields are 1-2bp higher on the day. Last yields: 2-year -0.1251%, 5-year -0.0386%, 10-year 0.2952%, 30-year 0.8719%.
  • The Mar 21 gilt future trades at 134.33, 10 ticks off the day's low.
  • The BoE purchased GBP1.48bn of medium-dated gilts with offer-to-cover of 2.67x.
  • Data published this morning showed a slightly better than expected CCPI print for December and continued robust growth in house prices.
  • PM Boris Johnson and Home Secretary Priti Patel have indicated that the supply constraints facing Pfizer and AstraZeneca are behind a slowdown in the vaccination programme.
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