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Flat Start, BoE’s Mann To Speak Later

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

G Z4 +12 at 98.92.

  • Initial resistance at yesterday’s high (99.21), support at yesterday’s low (98.54).
  • Over 80% of the quarterly futures roll is complete, first notice for U4 is tomorrow.
  • Yields ~1.5bp lower across the curve.
  • BoE hawk Mann will appear on a panel discussing “The Value of Economic Research for Policy” (13:15 London). There is no live streaming of the event.
  • Don’t expect much new from Mann today (more to come on that in later bullets).
  • BoE comments have refrained from signalling a need for back-to-back cuts, stopping the market from fully discounting sequential easing at meetings through early ’25 (~40bp of cuts currently priced through year end).
  • Oil swings will continue to be eyed, given spill over into FI markets in recent weeks.
  • On the supply front, the DMO will sell GBP1.5bn of 0.75% Nov-33 I/L.
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G Z4 +12 at 98.92.

  • Initial resistance at yesterday’s high (99.21), support at yesterday’s low (98.54).
  • Over 80% of the quarterly futures roll is complete, first notice for U4 is tomorrow.
  • Yields ~1.5bp lower across the curve.
  • BoE hawk Mann will appear on a panel discussing “The Value of Economic Research for Policy” (13:15 London). There is no live streaming of the event.
  • Don’t expect much new from Mann today (more to come on that in later bullets).
  • BoE comments have refrained from signalling a need for back-to-back cuts, stopping the market from fully discounting sequential easing at meetings through early ’25 (~40bp of cuts currently priced through year end).
  • Oil swings will continue to be eyed, given spill over into FI markets in recent weeks.
  • On the supply front, the DMO will sell GBP1.5bn of 0.75% Nov-33 I/L.