Free Trial

Concerns about the UK election.........>

BOND SUMMARY: Concerns about the UK election outcome have led to a deterioration
in risk appetite, putting core bonds on the front foot led by gilts.
- The Kantar poll published this morning showed that the Tory lead over Labour
is beginning to shrink, reducing the probability that the Conservatives will win
a majority. GBP FX initially sold off before gilts moved higher, USTs and Bunds
then followed before equities started to trade heavier on the day.
- The economic data calendar is very quiet today and the only Fed speaker
scheduled is Brainard who will discuss the policy framework review.
- TY1 futures are up 0-3 today at 129-19+ with 10y UST yields down -1.0bp at
1.746% and 2y yields down -1.2bp at 1.591%.
- Bund futures are up 0.10 today at 171.19 with 10y Bund yields down -1.1bp at
-0.361% and Schatz yields down -0.7bp at -0.641%.
- Gilt futures are up 0.34 today at 132.46 with 10y yields down -3.5bp at 0.659%
and 2y yields down -2.0bp at 0.493%.

To read the full story



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.