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Why MNI
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.
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Free AccessEarly Rally Unwinds
Gilts initially move higher tracking the rally in EGBs, before those moves stalled/moderated.
- Futures last unchanged at 99.80 (early range 99.76-100.08).
- Familiar technical levels untested/intact.
- Cash gilt yields are little changed to 1bp lower across the curve.
- SONIA futures are -0.5 to +1.5, off early highs.
- BoE-dated OIS little changed showing ~71bp of ’24 cuts, first cut fully discounted come the end of the August MPC.
- Local economic activity data had little impact, we had always noted that yesterday’s labour market data would be more important for markets/BoE policy.
- The local calendar is effectively empty for the remainder of the day.
To read the full story
Sign up now for free trial access to this content.
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Why MNI
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.