Free Trial

EGB/Gilt - UK PM Resigns

  • EGBs and Bund have faded from their highs, after rallying this afternoon, on report that UK PM Truss will be resigning.
  • Liz Truss has now resigned, and will stay in place until a new PM is expected to be put in place by the 28th October.
  • Committee chair Brady said it will be possible to conduct a Ballot and conduct an election by the 28th October.
  • Adding that two candidates will be put to Tory membership.
  • Boris Johnson Expected To Stand In conservative Leadership Contest (Times).
  • Sunak is still the favourite according to Smarkets.
  • Peripheral spread are tighter against the German 10yr, with Italy in the lead by 6.1bps.
  • Gilt future traded as high as 100.53, but is now back at 98.70 at the time of typing.
  • Looking ahead, Fed Harker, Cook, Jefferson, Bowman, ECB de Cos.

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.