MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: BAKER HUGHES US RIG COUNT 589; OIL RIGS 482; GAS RIGS 101

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

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

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

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

BOE denies active sales plan is postponed, destroying calm in gilt market

BONDS
  • We had been seeing (by recent standards at least) a relatively benign session for core FI. However, just before 10:00BST the BOE officially denied the FT story this morning. This caused gilt futures to fall almost 100 ticks from 96.96 to a low of 95.97. Over half of this move has since been retraced but this still leaves 10-year gilt yields 6bp higher on the day.
  • Bund and Treasury futures had been slowly trending lower through the European morning session with both below their lows of yesterday (but still above Friday's lows). The moves in Treasuries simply retraced the moves higher in Asian trading.
  • Looking ahead we have US industrial production data at 14:15BST / 9:15ET.
  • We also have speeches from ECB's Makhlouf, Schnabel and Nagel as well as Fed's Bostic.
  • TY1 futures are down -0-3 today at 110-19+ with 10y UST yields up 0.9bp at 4.021% and 2y yields up 0.8bp at 4.453%.
  • Bund futures are down -0.54 today at 136.34 with 10y Bund yields up 5.8bp at 2.323% and Schatz yields up 3.9bp at 1.981%.
  • Gilt futures are down -0.64 today at 965.59 with 10y yields up 6.2bp at 4.029% and 2y yields up 5.5bp at 3.594%.
HomepageBulletMarketsFixed Income BulletsForeign Exchange 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.