MNI BRIEF: Cuts Should Be Timely But Cautious - Buba's Nagel

MNI BRIEF: ECB Policy Decisions Based On Broad Analysis- Lane

MNI BRIEF: Less Than Half Canada Firms See Inflation Obstacle

MNI China Daily Summary: Monday, November 25

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 22

MNI: PBOC Net Injects CNY76.7 Bln via OMO Monday

EZ/UK T-Bill Calendar: 2/3-Month ATB Auction on Tuesday

MNI: BELGIUM NOV BNB BUSINESS SURVEY -11.1

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, DE Due on Tuesday

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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

Bear Steepening

GILT SUMMARY

The gilt curve has bear steepened alongside modest equity gains.

  • Gilt cash yields are 2-6bp higher across the curve with the 2s30s spread 3bp wider on the day. Last yields: 2-year -0.0174%, 5-year 0.0298%, 10-year 0.3423%, 30-year 0.8973%.
  • The Mar-21 gilt future trades at 133.82, towards the bottom end of the day's range (L: 133.72 / H: 134.38).
  • The DMO earlier sold GBP3.00bn of the 0.125% Jan-26 Gilt and GBP2.25bn of the 1.25% Oct-41 Gilt.
  • The BoE purchased GBP1.473bn of long-dated gilts with an offer-to-cover of 1.78x.
  • The final manufactring PMI estimate for November came in at 55.6, marginally above the initial reading of 55.2. Nationwide house price data for November showed a larger than expected increase in house prices (6.5% Y/Y vs 5.4% survey) and follows yesterday's strong mortgage approvals data.
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.