Free Trial

A Little Cheaper To Start

GILTS

Gilts are more reluctant to turn bid than European peers, leaving futures -30 or so near 97.90, ~10 ticks off the base of an early ~40 tick range. Cash gilt yields are 1-2bp higher with a light steepening bias seen.

  • Domestic headline flow remains light, with the modest cheapening in Tsys since yesterday’s gilt close having some influence.
  • SONIA futures last show unchanged to 2bp softer on the day.
  • BoE-dated OIS is little changed to 1.5bp firmer on the day, with no meaningful movement in pricing vs. levels flagged pre-gilt open.
  • The release of the BoE’s FSR headlines the thin local docket today.
  • We will also get GBP3bn of 0.875% Jul-33 green gilt supply.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

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.