The front-end of the Gilt curve is pressured as the docket saw tier-1 data on Wednesday. April consumer prices slowed less than expected, UK home prices rise for the first time in 9 months, public finances deteriorated in April, and a UK general election is announced
The Gilt curve is flatter, the 2s10s curve is 4.5bps lower. The 2-year yield rises almost 15bps to 4.429%, this is close to a two-sigma move over the last month. 2-year Gilt yields now stand 1.0 standard deviation above their 1-month average
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