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Firmer On Fed

GILTS
Bank Of England (BOE) Market NewsHomepageBond Market NewsBulletMarketsFixed Income Bullets

Gilts rally as GBP FI markets adjust to the FOMC decision, but futures stick within the range seen week-to date, last +42 at 96.07 (highs of 96.18).

  • The contract stabilised ahead of initial support at 95.36 yesterday, although the bearish technical picture remains intact, with meaningful esistance levels some way off.
  • 5s lead the rally, with yields 2-5bp lower on the day.
  • Firmer-than-expected Spanish PMI data helps cap the rally.
  • SONIA futures remain underpinned, last unchanged to +8.0.
  • BoE-dated OIS operates around pre-gilt open levels, flagged in the early STIR bullet.
  • The UK calendar is essentially empty today, which will leave focus on broader macro headline flow and post-FOMC reaction in EUR & GBP markets.
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Gilts rally as GBP FI markets adjust to the FOMC decision, but futures stick within the range seen week-to date, last +42 at 96.07 (highs of 96.18).

  • The contract stabilised ahead of initial support at 95.36 yesterday, although the bearish technical picture remains intact, with meaningful esistance levels some way off.
  • 5s lead the rally, with yields 2-5bp lower on the day.
  • Firmer-than-expected Spanish PMI data helps cap the rally.
  • SONIA futures remain underpinned, last unchanged to +8.0.
  • BoE-dated OIS operates around pre-gilt open levels, flagged in the early STIR bullet.
  • The UK calendar is essentially empty today, which will leave focus on broader macro headline flow and post-FOMC reaction in EUR & GBP markets.