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Watching Gilts

BONDS

Gilts wag the tail of the wider core bond market in the wake of the UK labour market data, with Bunds and Tsys edging away from best levels before turning bid again. Macro headline flow remains light, while EGB issuance-related headlines have cantered on guidance for the previously outlined syndications from the EU and Greece. Tsys are 2-3bp richer across the curve, while German cash trade sees 1-3bp of richening, with the belly/intermediates outperforming at the margin on both curve. TY and Bund futures have failed to test early London highs on the latest bid.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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