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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
GILTS
Several sell-side desks suggested taking profit on/lightening up gilt/Bund tightener positions earlier this week, given the proximity to today’s UK CPI data, the pre-CPI dovish move in GBP STIRs and prevailing spread levels.
- 10-Year gilt/Bunds is ~9bp wider vs. Friday’s closing levels, back towards the middle of the multi-week closing range.
- The spread last trades at ~171bp, with the bulk of the move coming in the wake of the firmer-than-expected UK CPI readings (~8bp wider today).
Fig. 1: 10-Year Gilt/Bund Spread (%)
Source: MNI - Market News/Bloomberg
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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