May 10, 2024 12:27 GMT
Away From Highs
GILTS
Gilts soften a little, with futures now +18 at 98.03 and yields sitting 1.5-2.5bp lower on the day.
- Bulls failed to take out 98.30 in futures, with the pullback from highs extending a little in recent trade.
- Comments from BoE chief economist Pill and Atlanta Fed President Bostic may have factored into the pullback.
- Bostic continues to position himself at the hawkish end of the FOMC spectrum.
- Meanwhile Pill warned against being “seduced” by headline CPI before measures of persistent price pressures are more in check, stressing the need to see further progress on that front.
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