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Back To Flat

GILT SUMMARY

Gilts sold off sharply at the beginning of the session and have steadily clawed back losses through the day to now trade close to flat.

  • Cash yields are now within 1bp of Friday's close. Last yields: 2-year -0.0332%, 5-year 0.0865%, 10-year 0.4883%, 30-year 1.0729%.
  • The Mar 21 gilt future trades at 132.23, 1 tick below the day's high.
  • The BoE earlier purchased GBP1.48bn of short-dated gilts with offer-to-cover of 4.48x.
  • A new study suggests that the Oxford/AstraZeneca vaccine is only 10% effective against the South African variant of the coronavirus.
  • Looking ahead, preliminary Q4 GDP will be published on Friday alongside industrial production, construction output, index of services and international trade data for December.

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