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Contained Swings, Focus On U.S Equities In Recent Trade

GILTS

Gilt futures initially trade back towards early session highs on the previously covered NYCB equity vol. in early NY cash trade, before the fresh move higher in e-minis caps the uptick and stops bulls from challenging best levels of the day in gilt futures. The contract last shows -29 at 98.41, a little below the middle of its session range. Cash gilt yields are 1-4bp higher on the day, with 7s still providing the weakest point. End ’24 BoE pricing sticks to previously established session ranges, last showing ~86bp of cuts. SONIA futures fade the knee jerk bid to last trade flat to 3.5bp lower through the blues.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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