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Free AccessBid Extends On Softer Than Expected U.S. CPI
Gilt futures press to fresh session highs in the wake of the softer than expected run of U.S. CPI data.
- The bid in the contract stops just shy of initial technical resistance in the form of the Nov 9 high (96.14), topping out at 96.11 for now before backing off to trade around 96.00.
- Cash gilts sit 8-9bp lower in yield terms on the day, reaching fresh session lows, with the curve experiencing a more parallel shift after flattening early on Tuesday.
- SONIA futures last print unchanged to 12bp richer through the blues, sitting a touch shy of post-data bests.
- BoE-dated OIS is now little changed to 8bp softer on the day, with the contracts covering the MPC meetings in the back end of ’24 seeing the most movement in the liquid area of the strip.
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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.