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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.
GILTS
Today's rally in gilts and repricing of BOE expectations has stalled a little, with gilt futures reaching an intraday high of 125.38 (close to the 125.40 resistance level our technical analyst flagged which represents the 1.382 projection of the Feb 16 - 18 - 23 price swing).
- Outside of the PMI this morning, there have been no real UK-specific drivers of the moves.
- The SONIA strip is up 2-13 ticks for Whites, 16-20 ticks for Reds and over 20 ticks for Greens/Blues today with 2-year gilt yields down 17.6bp.
- The 2s5s curve has flattened 3.0bp, 5s10s flat and the 10s30s curve steepened 5.0bp at the time of writing.
- This leaves the first 15-years of so of the gilt curve well below the levels seen going into the February MPC meeting before climing to a peak to around 1.53% (similar to levels seen post the Feb meeting) and then in the 30+ year sector of the curve yields are higher.
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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