Gilts are a touch higher in light trading, with markets pausing for breath after the sharp moves seen in recent sessions. "Given the scale of the sell-off on Friday, some consolidation was overdue," says a strategist. On Tuesday, traders will be keeping an eye on CPI data as well as the minutes of the Consumer Price Advisory Council on possible changes to how RPI is calculated. December/gilts are up 0.16 at 118.18 and the 10-year gilt yield is 2bps lower at 1.94%.
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