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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.
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Free AccessBear Flattening, Hawkish BoE Repricing Holds, Long End Yields Off Fresh '24 Highs
Gilt futures edge away from session lows with that next technical support level (96.30) untested.
- Cash gilt yields are 1.5-4.5bp higher with some bear flattening kicking in as 10+-Year yields move away from this morning’s fresh year-to-date highs and hawkish BoE repricing is maintained post-wage data.
- SONIA futures are flat to 7.5bp softer on the day.
- BoE-dated OIS now shows ~44.5bp of ’24 cuts, with Sep ’24 MPC pricing threatening to show less than 25bp of cuts.
- Comments from incoming BoE Deputy Lombardelli provided little for markets to trade off.
- Comments from BoE Governor Bailey (18:00) are due ahead of tomorrow’s local CPI data.
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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.