MNI BRIEF: Fed's Goolsbee Sees Jobs Risk From Tight Policy

MNI BRIEF: Investors Saw BOC Cutting to 3% By Q3 2025

MNI: BLS: NET PAYROLLS REVISIONS FOR JUNE, MAY -29,000

MNI China Daily Summary: Friday, August 2

MNI China Press Digest Aug 2: Hukou, Property, State Grid

MNI: PBOC Sets Yuan Parity Higher At 7.1376 Fri; -0.90% Y/Y

MNI: BAKER HUGHES US RIG COUNT 586; OIL RIGS 482; GAS RIGS 98

EZ/UK Bond Supply Calendar: BoE APF Operation on Monday

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Bear Steepening

GILT SUMMARY

The gilt curve has bear steepened with the very long end well offered.

  • Cash yields are 1-5bp higher on the day with the 2s30s spread 4bp wider. Last yields: 2-year -0.0304%, 5-year -0.0401%, 10-year 0.2870%, 30-year 0.8693%.
  • The Dec-20 gilt future trades at 135.32, 8 ticks off the day's low.
  • Short sterling futures are flat/1.0 ticks higher in whites/reds and 1.0-2.5 ticks lower in greens/blues.
  • Chancellor of the Exchequer Rishi Sunak has stressed that there will be 'hard choices' ahead after the coronavirus subsides and the government focus attention on restoring the public finances.
  • The BoE purchased GBP1.473bn of short-dated gilts with offer-to-cover of 2.69x.
  • Tomorrow the DMO will sell GBP3.25bn of the 0.125% Jan-24 gilt and GBP2.0bn of the 1.75% Jan-49 gilt.
Homepagemarkets-real-timeBulletMarketsFixed Income Bullets

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.