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- PolicyPolicy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: - G10 MarketsG10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI Podcasts - Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
- CommoditiesCommodities
Real-time insight of oil & gas markets
- CreditCredit
Real time insight of credit markets
- Data
- MNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
- About Us
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Free AccessFocus On Tomorrow's Budget
Gilts traded sideways for most of the day, having initially opened stronger, and have rallied sharply since the early afternoon following the BoE's buyback operation.
- Gilt cash yields are 2-7bp lower on the day with the curve 4-5bp lower. Last yields: 2-year 0.0672%, 5-year 0.3247%, 10-year 0.7140%, 30-year 1.2706%.
- The Jun-21 gilt future trades at 128.1, 17 ticks off the day's high.
- The DMO earlier sold GBP3.00bn of the 0.375% Oct-26 Gilt and GBP1.25bn of the 0.50% Oct-61 Gilt. GBP147.351mn of the former and GBP312.499mn of the latter were taken up through the PAOF.
- The BoE purchased GBP1.48bn of long-dated gilts with offer-to-cover of 1.95x.
- The focus tomorrow will be on the UK budget, particularly given the slew of communication from Chancellor of the Exchequer Rishi Sunak on the need to restore the healthy of the public finances after the pandemic. MNI earlier published a UK budget preview, which is available online and by email.
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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.