Trial now



Close the gap to 177.26


EGBs-GILTS: Short End Underperforming Pre-BoE


Pares gains against all G10s

STERLING: *Correct* (Altered to PM May's Brexit deal Tuesday) 
Looking at GBP overnight ATM FX vol, both the EUR/GBP & GBP/USD measures have
retraced from the YtD highs seen Tuesday, although the measures do still sit
above the typical levels observed in early 2019 after hitting the highest levels
observed since the 2017 General Election on Tuesday.
- Spot GBP garnered a degree of respite after being pressured in immediate
reaction to the defeat of PM May's Brexit deal Tuesday. Most expect her to
survive Wednesday's no confidence motion, with the DUP set to support her, and
BBC sources indicating that the ERG wing of the Tory party will do the same. GBP
also likely drew support after the PM noted that she will enter cross-party
discussions re: Brexit matters before she returns to Brussels.
MNI London Bureau | +44 0203-865-3809 |