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Curves continue to steepen

GILTS
  • Gilt futures have settled in a 96.42-96.95 range over the past hour or so.
  • The 2s5s curve remains relatively stable today but there is continued steepening of the 5s10s and 10s30s curves.
  • The 10s30s curve is 14.6bp steeper on the day at 42.8bp and is approaching the 43.4bp intraday high from 30 August - which was the steepest since the August MPC meeting when the original active gilt sales plans were announced. The cycle high is still some way away at 59.6bp.

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