Free Trial

Bullish Outlook


Busy Data Calendar Next Week


Trend Needle Still Points South

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
GILT SUMMARY: 10-yr Gilt yield has remained relatively steady and close to
intra-days lows in London afternoon session, while the rest of the curve has
ticked higher narrowing/widening the earlier gap with the 10-yr Gilt. UK 2s/10s
has narrowed to 66.5bp from 68.4, while 10s/30s has widened to 42.2bp from
- 2-yr Gilt yield -5.5bp at 0.78%, 5-yr -6.9bp at 1.132%, 10-yr -7.8bps at
1.443%, 30-yr -5.9bps at 1.87% and 50-yr -5.6bps at 1.67% according to Tradeweb.
- Majority of the rally in Gilts was seen in first hour of trade as markets
traded with risk-off sentiment for a number of reasons and led to there being
very little reaction to downward surprise to UK April inflation.
- Red and Green short sterling contracts have seen extra buying in the afternoon
as well, while blue contracts have remained steady and white contracts some
selling. MNI PINCH now see markets pricing in just 41% chance of a BoE rate hike
in August and 76% in November.
- Breakevens have tightened by circa 2.5bps, while swap spreads are 2bp wider.
- Tomorrow sees DMO tap 20-yr IL Gilt and UK April retail sales data.

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.