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- UK gilts have sold off this..........>

GILT SUMMARY
GILT SUMMARY: - UK gilts have sold off this morning and the curve has flattened.
- The benchmark 2-year gilt trades at a yield of 0.807% from a low of 0.777%,
while the 10-year trades at 1.577% up from 1.541%.
- The 2s10s spread has narrowed to 76.2bps down from 79.5bps and the 2s30s has
traded down to 110.4bps from 113.4bps.
- Inflation breakevens are edging lower with the 5-year benchmark trading at
3.194% down from 3.204%.
- Short sterling futures are flat to 1.0 ticks higher.
- Short sterling option flow has been light this morning.

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