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Gilts Rally as Stocks Slide Anew

Posted:02/12/2008 9:14 by Oliver Scott
Gilt debt futures have rallied in early trade,  in line with similar moves in Asia overnight. Rate cut expectations have been revised up as fears over a prolonged and deep recession have increased. The domestic agenda is light today and focus is on tomorrow's services PMI data and Thursday's BoE and ECB rate announcements. The December 10-year Gilt future is up 51 ticks at 119.09 and FTSE 100 is down over 2%. The 2-year Gilt future is down 5 bp at 1.95% and the 10-year yield is down 7 bp at 3.60%. click here to return to the top of the page
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