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BONDS: Oil Bid & Comments From BoE's Pill Weigh

BONDS
BulletMarketsFixed Income Bullets

Downside interest via TY put options presents the standout flow through the middle of the London morning, with the Z4 112.50/111.50 & 112.00/111.00 put spreads lifted via block and on screen.

  • Elsewhere, gilts have continued to weaken following the comments from BoE chief economist Pill, which were hawkish when compared to Thursday’s comments from Governor Bailey. Gilt futures hit fresh session lows of 97.80.
  • Widening in the UK/German 2-Year yield spread (+2bp) only unwinds some of yesterday’s largely Bailey-driven 9bp narrowing.
  • Fresh demand for crude oil continues to pressure wider core global FI markets.
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Downside interest via TY put options presents the standout flow through the middle of the London morning, with the Z4 112.50/111.50 & 112.00/111.00 put spreads lifted via block and on screen.

  • Elsewhere, gilts have continued to weaken following the comments from BoE chief economist Pill, which were hawkish when compared to Thursday’s comments from Governor Bailey. Gilt futures hit fresh session lows of 97.80.
  • Widening in the UK/German 2-Year yield spread (+2bp) only unwinds some of yesterday’s largely Bailey-driven 9bp narrowing.
  • Fresh demand for crude oil continues to pressure wider core global FI markets.