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5s Lead Rebound, Futures To Fresh Highs

GILTS

UK paper leans on the bid seen elsewhere in the core global FI sphere, with futures going on to make fresh session highs at 97.91, topping out just ahead of resistance at 97.93, the Nov 22 high. Cash gilt yields are 8.5-13.5bp lower, with 5s continuing to outperform given global central bank repricing.

  • SONIA futures are flat to 18.5bp firmer on the day, with the back of the reds and front of the greens leading.
  • BoE-dated OIS is flat to 10bp softer through ’24 MPC meetings.
  • BoE Governor Bailey will speak imminently.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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